CME Group broke its one-day record for cryptocurrency futures and options trading by logging 794,903 contracts on Nov. 21, the company said. The spike, which surpasses the previous record set in August, highlights an increase in demand for regulated crypto derivatives at a time of heightened market volatility.
The Chicago-based exchange has seen activity in its crypto suite increase through 2025, driven by both institutional players and retail investors. Giovanni Vicioso, CME’s global head of cryptocurrency products, said the increase reflects growing interest in tools that help manage risk in an unpredictable market.
“Amid ongoing market uncertainty, demand for deeply liquid, regulated crypto risk management tools is accelerating,” he said.
The contracts represent assets such as bitcoin and ether and traders use them to hedge against price fluctuations or speculate on future movements without holding the underlying tokens. For example, a hedge fund anticipating a decline in bitcoin may short CME’s bitcoin futures to limit losses on spot holdings.
CME’s year-to-date crypto average daily volume (ADV) now stands at 270,900 contracts, valued at $12 billion in nominal terms, an increase of 132% compared to the same period last year. Open interest, or the number of contracts outstanding, rose 82% year-over-year to 299,700 contracts, totaling $26.6 billion in notional value.
In the fourth quarter alone so far, average daily volume has increased 106% over the same period in 2024, reaching 403,200 contracts with a notional value of $14.2 billion. Open interest for the same period grew by 117%, totaling 493,700 contracts worth $35.4 billion.
The increase in trading volume signals that more investors are looking for regulated exposure to crypto markets, even as uncertainty continues. CME Group, which launched its bitcoin futures in 2017, has steadily expanded its crypto offerings to meet this demand.
