20 Best Cryptocurrency Stocks to Buy According to Hedge Funds

8. CME Group Inc. (NASDAQ:CME)

Number of Hedge Fund Holders: 59

CME Group Inc. (NASDAQ:CME) is a leading derivatives marketplace that allows its clients to trade futures, options, cash, and OTC markets. It is made up of four exchanges including CME, CBOT, NYMEX, and COMEX, each of which offers a range of global benchmarks across all major asset classes. The firm was established in 1848 as the world’s first futures exchange which was based in Chicago. In the cryptocurrency spectrum, the firm enables managing cryptocurrency exposure with Bitcoin, Micro Bitcoin, Ether, and Micro Ether futures and options.

CME Group Inc. (NASDAQ:CME) has a highly diverse product set which makes the firm strong enough to navigate changing macroeconomic situations. The firm has the privilege of being the only exchange globally that gives customers global electronic access to all benchmark products across Energy, Metals, Agricultural, and Environmental markets. Furthermore, the growing need for risk management has enabled CME Group to drive a strong financial performance.

CME Group recorded an all-time record revenue of $1.5 billion for the fiscal second quarter of 2024. The highest Q2 average daily volume (ADV) in company history, 25.9 million contracts, was successfully accomplished. This includes non-U.S. average daily volume which hit a record 7.8 million contracts. The firm also witnessed year-over-year growth across every asset class. Thus, the company leverages the growing need for risk management to drive a strong financial performance.

As of 2024’s second quarter, the stock is held by 59 hedge funds which makes it a part of the 20 best cryptocurrency stocks to buy according to hedge funds. GuardCap Asset Management is the dominant shareholder in the company with a position worth approximately $698 million.