Summary:
Institutional demand for Bitcoin is rising as CME BTC Futures are now ranked secondThe open interest of the CME Bitcoin futures eclipses that of Binance, Bitmex and even BybitThis is a sign of continual institutional interest in Bitcoin Outside of futures platforms, 785,999 BTC is currently held by publicly traded companies
The demand for Bitcoin (BTC) has continued to spread outside regular retail traders. According to data from Arcane Research, the CME Bitcoin futures market is now the second-largest with an open interest of nearly $800 Million. This means that the CME BTC futures market is trading more Bitcoin futures contracts than popular exchanges such as Binance, Bitmex, Huobi and Bybit. Only OKEx has a higher Bitcoin open interest than the CME Group.
Below is the observation by the team at Arcane Research and an accompanying chart illustrating the open interest on each major crypto exchange.
The institutional demand for bitcoin exposure is growing!
CME is currently the second largest futures market for bitcoin, with an open interest of nearly $800 million.
Data: @skewdotcom
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— Arcane Research (@ArcaneResearch) October 23, 2020