CME Tops in Bitcoin Futures Rankings Amid Rapidly Growing Institutional Interest

CME has risen to second place in terms of bitcoin futures open interest, passing Binance and BitMEX.

The Chicago Mercantile Exchange (CME) just became the second-biggest Bitcoin futures exchange in open interest behind OKEx, buoyed by rising institutional demand. The CME Bitcoin futures market overtook Binance Futures to become the second-biggest Bitcoin (BTC) futures exchange by open interest. The data shows that the institutional volume is rapidly gaining a larger share of the cryptocurrency market.On Oct. 10, Skew reported that the CME Bitcoin futures market’s open interest rose sharply by 1,500 contracts. Since then, within three days, the price of BTC surged 9% to over $13,000. The....

Chicago Mercantile Exchange now tops the list of the biggest bitcoin futures trading platforms, accounting for nearly 20% of all open interest.

Amid growing institutional adoption of cryptocurrencies, it seems as though that Blackrock, the world’s largest asset manager, has now set its eyes on the rapidly expanding crypto space.  Back in January, Bloomberg reported that Blackrock was adding Bitcoin futures as eligible investments in two of its funds — the first time the firm had offered […]

Speculation has been going on in the crypto community as to whether the $69k Bitcoin top was the peak of this bull run. Here’s a comparison between some indicators to see how this top compares with the $65k April peak. Comparing the Metrics Between The Nov 10th And April 14th Peaks As per the latest weekly report from Arcane Research, most of the sentiment measuring metrics highlight the differences between the two tops. The first relevant metric is the futures open interest indicator, which shows the total amount of Bitcoin involved in futures contracts at the end of a trading day.....