There are two different takes (speculation is the best word to describe this though) on CME's Bitcoin Futures Trading , The first is It will intensify the Bitcoin's volatility and Second is It will stabilize the Volatility of Bitcoin to easy manipulate it. If we are going to observe things here, we can speculate that we are not on the two different takes here. Here is the unpopular opinion on the OP:
https://bitcointalk.org/index.php?topic=2547718 you can read and digest it and you may post there what will be your take on it. I think that's what is happening now, CME's Bitcoin Futures will slowly suck out the money from Bitcoin market to CME's Bitcoin Futures Trading.