CME Group broke its single-day record for cryptocurrency futures and options trading, logging 794,903 contracts on November 21, the company said. The spike, which surpasses the previous record set in August, highlights a surge in demand for regulated crypto derivatives during a time of heightened market volatility.

The Chicago-based exchange has seen activity in its crypto suite climb throughout 2025, fueled by both institutional players and retail investors. Giovanni Vicioso, CME’s global head of cryptocurrency products, said the increase reflects growing interest in tools that help manage risk in an unpredictable market.

“Amid ongoing market uncertainty, demand for deeply liquid, regulated crypto risk management tools is accelerating,” he said.

The contracts represent assets like bitcoin BTC$88,449.89 and ether ETH$2,958.45, and traders use them to hedge against price swings or speculate on future moves without holding the underlying tokens. For example, a hedge fund that expects a downturn in bitcoin might short CME’s bitcoin futures to limit losses on spot holdings.

CME's year-to-date crypto average daily volume (ADV) now sits at 270,900 contracts, valued at $12 billion in notional terms, up 132% compared to the same period last year. Open interest, or the number of outstanding contracts, rose 82% year-over-year to 299,700 contracts, totaling $26.6 billion in notional value.

In the fourth quarter alone so far, average daily volume has jumped 106% from the same period in 2024, reaching 403,200 contracts with a notional value of $14.2 billion. Open interest for the same period grew 117%, totaling 493,700 contracts valued at $35.4 billion.

The increase in trading volume signals that more investors are looking for regulated exposure to crypto markets, even as uncertainty persists. CME Group, which launched its bitcoin futures in 2017, has steadily expanded its crypto offerings to meet this demand.