Institutional investors’ interest in financial instruments giving exposure to Bitcoin and Ethereum have increased, according to a report by crypto data provider CCData.
Institutional Interest Spikes
Institutional investors’ interest in financial instruments giving exposure to Bitcoin and Ethereum have increased, according to a report by crypto data provider CCData.
According to the research, the major cryptocurrencies saw increases in spot trading volumes, derivatives trading, and CME futures contracts. According to the study, June's bullishness was motivated by the recent BlackRock spot Bitcoin ETF filing, which led to other major asset managers like Fidelity, Invesco, WisdomTree and Ark Invest to file their own applications.
The volume of Bitcoin futures traded on the Chicago Mercantile Exchange (CME) increased by 28.6% to $37.9 billion in June, while the value of Bitcoin Micro Futures increased by 21.1% to $702 million.
With over 97,000 ETH Futures contracts traded and a 10.8% increase in June, Ethereum-based instruments also experienced a significant increase. The volume traded, valued in USD at $46.8 billion, increased by 24.6%.
The rise in trade and speculation may benefit the CME Group's newest offering, the Ethereum-to-Bitcoin Ratio Futures, which is scheduled to launch later this month, subject to regulatory approval.
