Key facts: For several years, the CME has allowed trading in bitcoin futures. Users of the CME include hedge funds and individual investors. The Chicago Mercantile Exchange (CME) appears to be preparing to offer bitcoin (BTC) spot trading to its users. In this way, it would give competition to established exchanges in the cryptocurrency niche such as Binance and Coinbase. While there are still many things to be defined, CME has been in talks with users who have shown interest in participating in the bitcoin market through a regulated entity, notes the Financial Times. CME's possible move could allow traders to trade through the EBS forex trading center in Switzerland, the report says. If the expansion is carried out, a new platform for bitcoin trading would be offered, expanding the options available within the framework of traditional finance. CME has supported bitcoin futures trading for several years and is currently the largest futures exchange in the world. In this sector, it has strong competition with exchanges of the magnitude of Binance and Coinbase.
CME is ahead of Binance in bitcoin futures
CME has held a fight with Binance in the bitcoin futures sector, which the Chicago-based group has so far won. BitcoinDynamic reported at the end of 2023 that the stock market surpassed the exchange by achieving historical highs in the bitcoin futures market and also ether (ETH), Ethereum's crypto asset. Analyst James Van Straten commented that, just as CME took away the futures market from Binance, It's also going to happen with the bitcoin spot market in the long term. He says this based on the capital inflows of the ETFs that have exceeded market expectations, but also by who invested in the funds during the first quarter. Among them are recognized banking entities such as Morgan Stanley, JP Morgan, Wells Fargo and others. The option in traditional finance represented by spot bitcoin ETFs in the United States has generated net inflows of $12.15 billion since they were issued earlier this year. If the CME moves forward with its plans to incorporate bitcoin cash on its platform, many traditional investors could also be «tempted» to trade bitcoin through that renowned institution.