CME’s Rise in Bitcoin Futures Rankings Signals Growing Institutional Interest

The CME has become the largest bitcoin futures exchange by open interest amid institutional onboarding.

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 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....

Bitcoin derivatives trading is on the rise as institutional investors flood the market. CME Group has become the world’s largest Bitcoin (BTC) futures market following a surge in open interest over the past month, industry data shows. In a Friday tweet, Arcane Research announced that CME had overtaken OKEx as the world’s largest Bitcoin futures market. Citing data from Skew, a market intelligence firm, Arcane said open interest in CME’s Bitcoin futures contract has reached $1.16 billion. OKEx, meanwhile, registered $1.07 billion. “Institutional investors are here,” Arcane said.CME’s....

Bitcoin has recovered back to $42,000 since the dump after recording a bearish trend. Since then, sentiment, as well as momentum, has since turned towards the positive, leading the digital asset back on the path to a bull rally. But this does not tell the whole story. In this report, we take a look at the bitcoin futures basis, where it’s at, and what it currently says about sentiment among institutional investors. Institutional Investors Getting Bullish? Institutional investors may be getting bullish based on what the bitcoin futures basis is saying. Although there has not been much....