CME's 24/7 crypto trading will be a market watershed, says analyst

The Chicago Mercantile Exchange's (CME) upcoming launch of 24-hour trading for its crypto futures and options will be a major watershed for the market, according to CoinDesk senior analyst James Van Straten. In a post on X, Van Straten recounted a recent conversation with an official at a liquidity provider who said the firm is hiring dozens of analysts to prepare for the CME's round-the-clock trading support starting in May. He added that 24-hour support for CME's crypto futures and options would increase liquidity, accelerate the convergence of crypto with traditional finance, and speed up institutional adoption. The CME previously announced it plans to introduce 24-hour trading for these products on May 29.