Institutional frenzy: CME becomes 2nd biggest Bitcoin futures market
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....
Related News
Ethereum trends show it’s becoming more valuable as ETH 2.0 draws near. Thus, institutional investors are clamoring to get in on the action before it is too late. A signal for this has been ETH Futures have been trading at a higher basis premium than BTC Futures on CME. ETH Futures have continuously traded at a higher rolling basis than BTC Futures for the past three months. This could show that institutional investors are more bullish on ETH’s future in comparison to BTC. But other factors have also led to the ETH Futures trading so high. Related Reading | Ethereum Fee Burns Clocks....
Chicago Mercantile Exchange now tops the list of the biggest bitcoin futures trading platforms, accounting for nearly 20% of all open interest.
Bakkt recorded an all-time high Bitcoin delivery in October, demonstrating a clear spike in institutional demand for BTC. Data from Arcane Research shows Bakkt Bitcoin exchange saw another record-high month from Sept. 20 to Oct. 20. This follows a noticeable rise in institutional demand for Bitcoin (BTC) from public companies in recent months.Bitcoin delivery on Bakkt. Source: ICE, Arcane ResearchBakkt, the digital asset payment platform and derivatives exchange, is tailored for institutional investors in the U.S. It is operated by Intercontinental Exchange, the parent company of the New....
The Chicago Mercantile Exchange (CME) has become the second-largest derivatives market for bitcoin futures in terms of open interest. The popular exchange has seen an influx of demand since the recent Paypal announcement and the Bitmex debacle as well. Data shows that the Bitcoin Mercantile Exchange (Bitmex) open interest for bitcoin futures has taken a dive since it was charged with illegally operating in the United States. CME Group’s rise in open interest began on Oct. 10, as Skew.com reported that the exchange added “nearly 1,500 contracts on the October expiry.”....
The launch of the much anticipated anonymous currency led to a trading frenzy yesterday with price reaching a dizzying high of more than $2 million per coin on Poloniex, the most popular altcoin exchange. Zcash trading on its launching day. In what can only be described as absolute insanity, Zec’s price changed by hundreds of thousands of dollars in seconds on Poloniex. By comparison, BitMEX’s Zec futures went from $7,000 per coin, to $3,000 to $1,000 to only reach $7,000 once more, all within minutes. Today, price has calmed slightly, but it remains absurd, with one Zec going for more....