Quick Take

The interest in Bitcoin is on an upward trajectory, a trend palpable in the recent data analysis. One aspect that has drawn media attention, including CryptoSlate, is the potential approval of a Bitcoin spot Exchange Traded Fund (ETF). This development could act as a springboard, propelling Bitcoin into the mainstream financial ecosystem by providing a regulated and simplified method of investment.

The Chicago Mercantile Exchange (CME), a favorite platform among institutions, has seen its open interest exceed 100,000 Bitcoin, which is approximately equivalent to $3.1 billion.
Approximately 27% of the total open interest now resides with CME, marking the highest level ever recorded.
Futures Open Interest, CME: (Source: Glassnode)
Futures Open Interest, CME: (Source: Glassnode)

On the other hand, Binance holds an open interest of about 112,000 Bitcoin, accounting for just under 30% of the market, a figure nearing its lowest point for the year to date. An exciting disparity is beginning to emerge between Binance and CME.

Futures Open Interest, Binance: (Source: Glassnode)
Futures Open Interest, Binance: (Source: Glassnode)

The post CME sees over 100k BTC in open interest amidst rising institutional interest – K33 Research appeared first on CryptoSlate.

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