Crypto derivatives also strengthened in the second quarter, with average daily volume rising to 250,000 contracts and June activity accelerated after the launch of round-the-clock trading for regulated crypto products.
CME Group said June average daily volume reached a record 30.6 million contracts, up 19% year over year, while second-quarter ADV totaled 29.8 million contracts, the exchange operator's second-highest quarterly level on record. June strength was led by equity index products, where ADV jumped 54% to a record 10.1 million contracts, and by agricultural products, where ADV rose 8% to a record 2.3 million contracts. Cryptocurrency derivatives also expanded, with June ADV up 76% to 334,000 contracts, equivalent to $10.7 billion in notional value, while second-quarter crypto ADV rose 32% to 250,000 contracts, representing $13.7 billion in notional value. Micro Bitcoin futures ADV rose 46% to 77,000 contracts in June, and Ether futures averaged 18,000 contracts daily in the second quarter. The June gains came about one month after CME launched 24/7 trading for its regulated crypto futures and options, with more than 7,200 contracts worth about $50 million in notional value traded over the inaugural weekend, underscoring continued demand for futures and options used to manage market risk.