CME Crypto Derivatives Volume Hits $3 Trillion in 2025

CME Group reported that its cryptocurrency derivatives trading volume reached nearly $3 trillion in notional principal in 2025. The average daily trading volume rose to 280,000 contracts, approximately $12 billion, while average daily open interest hit 313,000 contracts, around $26 billion. The fourth quarter saw a 92% year-over-year increase in trading volume, with open interest doubling and Large OI Holders reaching a record 1,039.

Bitcoin and Ethereum futures remained key liquidity drivers, with Micro contracts and MET achieving new trading records. On December 30th, QBTC’s single-day trading volume hit 128,000 contracts, contributing to over 1 million contracts traded in December. Spot-quoted futures, including QBTC, QETH, QSOL, and QXRP, totaled 131,000 contracts that day, bolstering CME’s expansion into volatility indices and new products like TAS in 2026.