Sure BTC futures are a small % of revenue today relative to interest rates, but as fee capture grows & new products follow (ETH ETF, etc) the product will become a bigger piece of the pie.
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A futures based Bitcoin ETF is very bullish for CME. There is now an avenue for retail $ to flow into their market at scale & be active on a daily basis. ETF holders are the fee insensitive customers that make Bitcoin futures a win for MMs, retail AND the exchange.
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Hello. Did someone say a big win for MM?
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Yuge win. Biggest win you've ever seen. Bigger win than any other market in the history of markets. You won't believe the amount of win we're having here. I promise you, the win will make history
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Absolutely right, however buying a nft on opensea for 0.02 ether and paying double that amount in fees is also not quite fee sensitive, just as exchanging 100 usd of bitcoin into other crypto, doing that 5 times and you have zero left, even without the MM’s
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