While daily trading volume of CME Group’s Bitcoin Futures contracts have begun picking up, CME Group Inc. Chief Executive Officer Terry Duffy says the firm is not yet ready to add additional cryptocurrency-based derivative products in the future.

While speaking with Bloomberg TV, Duffy gave some insight into why his firm isn’t rushing to add more crypto futures options after the attention that Bitcoin futures garnered, which he says “might have been the most controversial” and received “the most recognition” of any product launch in his 38 years' experience in the financial industry.

Despite the buzz Bitcoin futures generated, Duffy points out that the 3,000+ daily average contracts on Bitcoin futures only makes up a tiny fraction of CME Group’s total average trading volume of 18.4 million contracts.

Duffy is also hesitant to add more crypto derivatives “because it is highly volatile and new,” adding that more time is needed to review the success and challenges of Bitcoin derivatives, suggesting he would take a “wait and see approach with Bitcoin for now.”

Duffy said:

“Before we get into any other cryptocurrencies in the future, we’re gonna see how this one goes, and I think 6- to 8- months as a listing of Bitcoin is not a good enough barometer to decide what your future should be for any other cryptocurrency.”

Speculation over Bitcoin futures was like rocket fuel for Bitcoin’s price leading up to the December launch of CME Group’s Bitcoin futures product, eventually hitting an all-time high price of $20,000 before entering a seven-month long bear trend.