In line with a report from the Monetary Occasions, CME Group (NASDAQ: ) is planning to launch bitcoin buying and selling to broaden its portfolio.
Citing sources, the newspaper stated the Chicago-based alternate has spoken to merchants who wish to purchase and promote bitcoins on the regulated market.
Nonetheless, it was added that the plan has not but been accomplished.
In an interview with fromcrypto after the report, analysts at Bitget Analysis famous that the CME had opened buying and selling in futures contracts and “market demand for buying and selling was very robust as evidenced by market validation.”
“With a present CME contract place of 137,600 BTC, value round $9.1 billion, it has surpassed Binance to turn out to be the most important alternate by way of contract holdings,” the analysts stated.
In addition they highlighted that demand for spot buying and selling can also be robust, as is demand for futures contracts. Information from CoinMarketCap reveals that Bitcoin buying and selling quantity reached $42 billion within the final 24 hours.
“Given the size of this commerce quantity, it is not uncommon enterprise logic for CME to wish to broaden its product line and consumer base,” the analysts stated.
