Futures Exchange Giant CME Plans To Kick Off Bitcoin Trading

Futures exchange giant CME Group is set to introduce Bitcoin spot trading in response to increasing demand, as reported by the Financial Times. The specific timeline for the launch of spot trading on the exchange has not been confirmed yet. CME Group is already a significant player in the cryptocurrency market, having pioneered Bitcoin futures in December 2017. The exchange further catered to demand by launching micro Bitcoin futures in May 2021. Currently, CME Group leads the way in Bitcoin futures open interest, surpassing major crypto-native platforms like Binance, OKX, and BitMEX. CME Group also ventured into Bitcoin options in early 2020, although it is not the dominant player in the options market, trailing behind Deribit. The surge in demand for spot trading follows the introduction of several spot exchange-traded funds (ETFs) earlier this year. Recent data indicates that spot Bitcoin ETFs attracted $303 million in inflows on Wednesday.