Terrence A. Duffy, chairman and CEO of leading derivatives marketplace Chicago Mercantile Exchange (CME), disclosed that his company has noticed some growth in demand for its crypto products since November.
During a recent interview with CNBC’s Closing Bell, Duffy made the revelation when he was asked about the state of institutional demand for its Bitcoin futures product.
CME Records Uptick in Crypto Products
The CME chief executive believes market conditions in 2022 could have affected institutional demand for its products.
With the Terra ecosystem collapsing in May, FTX’s insolvency in November, and a string of bankruptcies in a contagion that followed suit, many critics would have thought that institutional interest in crypto assets would dwindle significantly.
However, Duffy revealed that the opposite was the case, as demand for CME’s crypto derivatives products has surged since November.
