- Trading activity increased 24%.
- Bitcoin options trading volume was up 16.6% and ETH trading volume was up 60%.
The Chicago Mercantile Exchange (CME) recorded an increase in crypto options trading volume in July, according to a CCData report provided to CoinDesk.
Trading activity increased 24% to $940 million, recording the first increase in four months. Bitcoin options trading volume increased 16.6 percent to $734 million and ETH options increased 60 percent to $207 million.
“The rise in bitcoin options volume on the CME indicates that institutions are using options to hedge their positions as uncertainty reigns in the market,” CCData wrote in the report.
Historical monthly options volumes on the CME
The document also said that in July, total cryptocurrency trading volume on centralized exchanges (CEX), including spot and futures, fell 12% to $2.36 trillion.
In early July, after BlackRock and several other companies expressed their desire to create exchange-traded funds, open interest in bitcoin options surged to the $13.8 million mark.
At the beginning of July, after BlackRock and several other companies expressed their desire to create exchange-traded funds, open interest in bitcoin options rose to $13.8 million.