According to a Thursday report According to the Financial Times, Chicago-based futures exchange CME Group is on track to launch Bitcoin spot trading due to growing demand.
According to a Thursday report According to the Financial Times, Chicago-based futures exchange CME Group is on track to launch Bitcoin spot trading due to growing demand.
It is unclear when Bitcoin spot trading will be available on the exchange, as the plan has not yet been finalized.
It is worth noting that CME Group has long been a major player in the cryptocurrency market. It initially launched Bitcoin futures in December 2017, a move that coincided with the peak of the bull run.
In May 2021, it also launched Bitcoin microfutures, responding to demand for smaller futures contracts.
According to data provided by CoinGlass, CME is currently in the lead when it comes to Bitcoin futures open interest with $9 billion. It is ahead of major crypto-native players like Binance, OKX, and BitMEX.
In early 2020, CME also launched Bitcoin options on its futures contracts. CME ranks second in terms of options value, far behind Deribit.
The growing demand for spot trading comes after the launch of several spot ETFs earlier this year.
According to the latest data, Bitcoin spot ETFs managed to attract inflows worth $303 million on Wednesday.
