Exchange Review October 2021

Report Summary

Cryptocurrency prices rallied in October with both Bitcoin and Ethereum recording their highest monthly closes to date at $61,350 and $4,290, respectively, following the launch of the first Bitcoin ETF in the United States.

CME Bitcoin futures volumes also had a record month, increasing 121% to $70.3bn, an all-time high for the exchange. As did ETH futures volumes, which rose 13.6% to a record $21.0bn, breaking the previous all-time high of $18.7bn in May 2021.

October Highlights

  • Following the debut of the Proshares Bitcoin ETF on October 19th, Bitcoin futures volumes on the CME rose 121% to $70.3bn, an all-time high for the exchange. Proshares’ underlying contracts trade exclusively with the CME, and thus triggered the significant increase.
  • Derivatives total volumes grew marginally to $3.6tn (1.0% increase from September), reaching 57.9% market share of total volumes, the second-highest level recorded bar November 2020.
  • ETH futures volumes rose 13.6% to a record $21.0bn, breaking the previous all-time high of $18.7bn in May 2021.
  • Ethereum open-interest on the institutional exchange CME grew 40.2% to 950mn, also an all-time high.
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