According to a report by the Financial Times, CME Group (NASDAQ:CME) is considering the launch of bitcoin trading as part of its strategic portfolio expansion efforts.
Sources cited by the newspaper revealed that the Chicago-based exchange has engaged in discussions with traders expressing interest in regulated marketplace transactions involving bitcoin.
Despite these discussions, the plan has yet to reach a finalization stage.
In response to the report, analysts at Bitget Research, in conversation with Investing.com, emphasized CME’s recent initiation of futures contract trading. They underscored the robust market demand witnessed, citing it as a testament to market validation.
The analysts highlighted CME’s current futures contract position, standing at 137,600 BTC, equivalent to approximately $9.1 billion. This figure surpasses Binance, elevating CME to the position of the largest exchange in terms of contract holdings.
Furthermore, they noted the buoyancy in demand for both spot trading and futures contracts. CoinMarketCap data reveals that Bitcoin’s spot trading volume has soared, reaching $42 billion in the past 24 hours.
The analysts concluded that given the substantial trading volume, it aligns with typical business logic for CME to explore opportunities to expand its product portfolio and user base.
