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The Chicago-based exchange is "looking at" creating altcoin futures contracts given significant client requests, Payal Shah, CME’s director of equity and crypto products, at CryptoCompare’s Digital Asset Summit in London on Wednesday.

Chris Tyrer, head of Fidelity Digital Assets Europe at Fidelity Digital Assets, said institutions such as sovereign wealth funds and pension funds are starting to believe in the long-term investment thesis for digital assets.

The MVIS CryptoCompare Digital Assets 100 index -- which tracks tracks the performance of some of the largest digital assets -- was up more as much as 6.7%.

The world’s largest crypto exchange by a considerable margin, processing $504 billion worth of spot trades of digital assets in January alone, according to data provider CryptoCompare

Binance handled slightly more than $500bn in spot crypto trading volume in January, according to the most recent figures from CryptoCompare, nearly four times more than its next largest rival.

Trading volumes jumped to $2.7 trillion in February, with volumes at major exchanges jumping over 35% to $2.4 trillion, researcher CryptoCompare said. Smaller exchanges saw volumes slump by 36% to $381 billion, suggesting growing consolidation of trading at larger venues.

Cryptocurrency exchange FTX reached a valuation of $25 billion in a new funding round that includes heavyweights from traditional finance.

Data from CryptoCompare shows that the price of Bitcoin started last week above $56,000 and moved sharply upward to surpass $62,000 – less than $2,000 away from its all-time high seen earlier this year.

The world's largest cryptocurrency was down 4.35% at $63,122.78, at 2:10 p.m. Eastern time, after hitting a record $67,016 on Wednesday.

Average weekly flows to bitcoin funds totalled $121.1 million in October, up from $31.2 million a month earlier, data from London-based CryptoCompare shows.