CME's crypto unit is experiencing its best month since the launch of bitcoin futures in 2017. The firm's volume and contract terms have increased more than 5x compared to November last year, and open interest has reached a record high. Investors are turning to CME's micro bitcoin contracts due to the large size of the regular contracts. Micro contracts have been averaging over a billion dollars a day and now represent over 15% of large bitcoin contracts. The makeup of participants is mixed, with both retail and institutional buyers. Despite increased volatility in bitcoin and ether, CME is not concerned and expects the momentum to continue. Open interest holders for CME's futures contracts have also reached a record high.



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