Monthly trading volumes of Chicago Mercantile Exchange options on ether futures have reached an all-time high this month.

According to The Block's Data Dashboard, the trading volume of options on ether futures on the CME reached $1.26 billion for May, with two days remaining in the month. This represents a significant increase compared to April's volume of $615.75 million and sets a record high for monthly trading volume, according to The Block's data.

According to Wednesday's Wintermute market update, the amount of outstanding ether futures contracts on the CME is nearing its highest-ever level.

Wintermute analysts suggested that this increase in open interest indicates that institutional investors are increasingly interested in trading ether relative to bitcoin amid …