CME Group broke its single-day record for trading cryptocurrency futures and options, recording 794,903 contracts on November 21, the company said. This spike, which exceeds the previous record set in August, highlights an increase in demand for regulated crypto derivatives at a time of increased market volatility.
The Chicago-based exchange saw activity across its crypto suite increase throughout 2025, fueled by both institutional players and retail investors. Giovanni Vicioso, global head of cryptocurrency products at CME, said the increase reflects growing interest in tools that help manage risk in an unpredictable market.
“Amid continued market uncertainty, demand for highly liquid and regulated crypto risk management tools is accelerating,” he said.
Contracts represent assets like bitcoin and ether and traders use them to protect against price fluctuations or to speculate on future movements without holding the underlying tokens. For example, a hedge fund that expects a bitcoin slowdown could short sell CME’s bitcoin futures contracts 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 notional terms, up 132% from the same period last year. Open interest, or the number of contracts outstanding, increased 82% year-over-year to 299,700 contracts, totaling $26.6 billion in notional value.
So far in the fourth quarter alone, average daily volume has jumped 106% compared to the same period in 2024, reaching 403,200 contracts with a notional value of $14.2 billion. Open interest for the same period increased 117%, totaling 493,700 contracts valued at $35.4 billion.
The increase in trading volume indicates that more investors are seeking regulated exposure to crypto markets, even as uncertainty persists. CME Group, which launched its Bitcoin futures in 2017, has gradually expanded its crypto offering to meet this demand.
