CME’s Bitcoin Trading Launch: Will it Outshine Binance and Coinbase? Delve into the Details

Chicago Mercantile Exchange (CME), the prominent Bitcoin futures provider, is reportedly planning to introduce spot trading of the largest cryptocurrency in the market, according to a report by the Financial Times on May 16. This move by CME could potentially overshadow popular exchanges such as Binance and Coinbase. The company’s decision comes in response to the growing demand for Bitcoin trading among market participants. Sources familiar with the matter revealed that CME has been in discussions with traders about the possibility of offering regulated Bitcoin trading. The report also mentioned that CME’s spot trading for Bitcoin could be facilitated through the EBS platform in Switzerland. By launching the spot market, CME aims to strengthen its position in the cryptocurrency industry, in addition to its existing standard contracts and micro futures. Currently, CME is considered the leading exchange for Bitcoin futures in terms of open interest. In contrast, the spot market is dominated by Binance, the largest offshore and unregulated cryptocurrency exchange, while Coinbase ranks third in terms of daily trading volume among exchanges.