May 15, 2019, 11:59AM EDT
• 2 min read

What the bitcoin derivative markets are telling us

Quick Take

  • Both Grayscale’s bitcoin trust product and CME Group bitcoin futures are driving yearly highs in volume, a sign of increased institutional demand
  • CME Group is seeing 250% growth in monthly average contracts sold Y/Y
  • While bitcoin futures notional value cracked $1 billion, it still only made up ~2.5% of gold futures notional value that day (an all-time high)
  • Given the recent spike in volatility, options platform Deribit is currently pricing a ~50% implied probability of bitcoin price ending the year at or above $10,000, up from 20% at the end of April

Join The Block Research for exclusive research like this

Gain access to this research piece and 100s of others, including ecosystem maps, company profiles, and topics spanning DeFi, CBDCs, banking and markets. Together with additional services, we help organizations understand what’s happening in the rapidly developing digital asset ecosystem.

Already a Research Member? Login Here