According to The Block's report, Chicago-based Chicago Mercantile Exchange (CME), one of the world's largest futures exchanges, saw record participation from institutional investors in regulated Bitcoin (BTC) and Ethereum (ETH) futures during the second quarter.
CME Group announced that the Bitcoin futures market reached its highest monthly trading volume in July of this year. Additionally, according to CME Group's report, movements in the technology-heavy Nasdaq 100 are influencing the price of Ethereum more than Bitcoin.
Moreover, CME Group revealed that with Ether/Bitcoin Ratio (EBR) futures, market participants can now efficiently execute a relative value trade between Ether futures (ETH) and Bitcoin futures (BTC) contracts in a single investment. With this new contract, investors can participate in cryptocurrency investments without needing any specific directional view.
Trading bitcoin and ether? Enhance your strategies with Ether/Bitcoin Ratio futures, our newest contract designed to help capture the relative value between the leading cryptocurrencies. https://t.co/Uel0JipxbW
— CME Group (@CMEGroup) July 31, 2023
