Bitcoin on CME after ETF approval: Investors increasingly interested.


Strong Demand for Bitcoin on CME After Approval of ETFs

Following the recent approval of the first cryptocurrency-related ETFs on Bitcoin, there is a strong demand for this digital currency on the Chicago Mercantile Exchange (CME). The introduction of these ETFs has led to increased interest from both individual and institutional investors in the cryptocurrency market.

New ETFs and Upcoming Halving – Vice President of CME Analysis

According to Giovanni Vicioso, the Head of CME’s cryptocurrency department, the introduction of Bitcoin ETFs in 2023 has resulted in increased demand for products offered by CME. In a conversation with Blockworks, he also discussed the upcoming halving and the growing interest in cryptocurrency technology and innovative applications such as tokenization.

Institutional Interest in Cryptocurrency Technology

The Vice President of CME notes that financial institutions are increasingly interested in the technology underlying Bitcoin and Ethereum, as well as the innovative applications of these technologies, such as tokenization. The approval of Bitcoin ETFs has contributed to increasing institutional trust in the cryptocurrency market.

Increase in Cryptocurrency Futures Contracts Volume on CME

CME is currently experiencing an increase in cryptocurrency futures contracts volume, surpassing an impressive $5 billion per day. There is also a noticeable rise in interest in Ethereum, in anticipation of the potential approval of spot ETFs on Ether.

Halving in 2024 – Forecasts and Optimism

Investor interest in the upcoming halving in 2024 is generating optimism for the further development of Bitcoin. Following the halving, a continued increase in investor interest is expected, with Bitcoin’s stronger market dominance making it easier to attract more investors.

CME’s Planned Actions

CME plans to continue developing products to help clients understand how to manage risk and gain exposure to the cryptocurrency market through their offerings. More and more institutions are considering not only trading cryptocurrencies but also implementing cryptocurrency technologies, such as tokenization, indicating a growing acceptance and trust in this innovative sector.