Bitcoin market might be slow moving, but CME Bitcoin Futures average daily trading volume is constantly on a rise in comparison to previous quarters. Meanwhile, SEC launches FinHub to better understand and support emerging technologies.
CME Bitcoin Futures average daily trading volume on a steady rise
Bitcoin is still in the red while not seeing much activity. However, investors are surely into the game as evident from the fact that the Bitcoin Futures trading volume on the Chicago Mercantile Exchange (CME) is constantly on a rise.
According to the new report by CME, the Bitcoin futures average daily trading volume (ADV) in quarter 3 of this year saw an increase of about 41 percent from quarter 2. Additionally, the number of open contracts also rose by 10 percent in quarter 3.
CME Group revealed the data through Twitter that shows a rise of about a 172.5 percent increase in ADV of q3 from quarter 1.
Despite seeing a steady rise, CME has no plans to list any new crypto as CEO Terry Duffy shared in July, “I will not just put products up there to see where they’re going to go. I will take a wait and see approach with Bitcoin for now.”
SEC launches FinHub to support emerging technologies
Meanwhile, US Securities and Commission (SEC) is launching Strategic Hub for Innovation and Financial Technology (FinHub) to add support for crypto space.
FinHub will be led by Valerie A. Szczepanik, Senior Advisor for Digital Assets and Innovation and Associate Director of the SEC’s Division of Corporation Finance. Szczepanik shared,
“SEC staff across the agency have been engaged for some time in efforts to understand emerging technologies, communicate the agency’s stance on new issues, and facilitate beneficial innovations in the securities industry. By launching FinHub, we hope to provide a clear path for entrepreneurs, developers, and their advisers to engage with SEC staff, seek input, and test ideas.”
While, Chairman Jay Clayton stated,
“The FinHub provides a central point of focus for our efforts to monitor and engage on innovations in the securities markets that hold promise, but which also require a flexible, prompt regulatory response to executing our mission.”