CME Tops in Bitcoin Futures Rankings Amid Rapidly Growing Institutional Interest
CME Tops in Bitcoin Futures Rankings Amid Rapidly Growing Institutional Interest
The Chicago Mercantile Exchange (CME) has become the largest bitcoin futures exchange by number of open contracts, as institutional interest in bitcoin continues to grow.
- As of Tuesday, open interest on the CME stood at $1.66 billion, the highest among the major derivatives exchanges that including OKEx, Binance and Bybit, according to data from crypto data analytic site Skew.
- CME now accounts for 18.1% of the total global open interest on Tuesday, currently sitting at approximately $9.18 billion.
- Skew’s data also shows that CME logged the highest trading volume for its bitcoin futures contracts on Dec. 28.
- “Institutional investors were eager to trade bitcoin again yesterday, after a few days off,” Norwegian cryptocurrency analysis firm Arcane Research wrote in a tweet earlier Tuesday.
- CME’s bitcoin futures products have seen rapid growth this year because of a surge in institutional capital inflows to the No.1 cryptocurrency by market capitalization and its derivative markets.
- Bitcoin’s price passed $28,000 this past Sunday, and many have attributed the price rally to the new institutional money in the space.
