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"Bitcoin ETF Approval Sparks Surge in Crypto Trading Volume"

Chicago Mercantile Exchange (CME) experienced a 35% surge in trading volume in January, reaching $94.9 billion, the highest in three years, following the approval of spot bitcoin exchange-traded funds (ETFs) in the U.S. The rise in futures volume and decline in options volume suggests institutional investors are winding down their positions after the ETF approval. Additionally, the volume of bitcoin futures open interest surpassed Binance but has since fallen, while ether futures and options trading volumes on CME also saw increases.