Ethereum CME futures trading volume hits 9-month low in August
Quick Take
- Ethereum futures trading volumes on the Chicago Mercantile Exchange (CME) dropped to a 9-month low in August.
- The downturn reflects a decline in institutional interest in Ethereum-related financial products, analysts said.
Chicago Mercantile Exchange (CME) Ethereum futures volume dwindled to a multi-month low in August, according to The Block's data.
Aggregated monthly trading volumes of CME Ethereum futures for the month of August were $20.8 billion, according to The Block's Data Dashboard. The trading volumes, estimated in dollar terms, show a 31% decline from July's $30.5 billion. According to The Block's data, August's trading volume was a low not seen since November 2023.
This week's CCData monthly Exchange Review observed a similar downturn in Ethereum futures trading volume on the CME. The analysts said in an email to The Block that the decline in trading volumes for Ethereum instruments suggests lower-than-expected institutional interest in the asset.
Ethereum exchange-traded fund trading volume declines
According to data from The Block, spot Ethereum ETFs tracking the price of ether—managed by firms like BlackRock and Fidelity—also saw a decline in trading volumes in August compared to July.
On Tuesday, spot Ethereum ETFs in the U.S. recorded net outflows of $47.4 million, the most significant daily negative flows since August 2. The Grayscale Ethereum Trust (ETHE) was the only spot ether ETF to report outflows for the day, with $52.31 million. Fidelity’s FETH logged $4.91 million in net inflows, while seven other spot ether ETFs saw no flows. The daily trading volume of these ether ETFs shrank to $163.5 million on Tuesday from $173.66 million last Friday.
Bitcoin has traded up around 1% over the past 24 hours, changing hands for $58,350 at the time of writing, while ether increased 0.6% to $2,461, according to The Block’s price page.
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