CME Bitcoin open interest hit a record 172K BTC.
Institutional investors drove a surge of 19K BTC in the last 3 days.
Futures premiums hit a 5-month high amid strong institutional interest.
Institutional investors are driving record-breaking Bitcoin open interest on the Chicago Mercantile Exchange (CME), pushing futures premiums to 5-month highs. This surge suggests strong confidence in Bitcoinâs potential for short-term growth.
CMEâs Bitcoin futures market now shows an open interest (OI) level of 172,430 BTC. This growth comes primarily from direct market participants, not futures-based exchange-traded funds (ETFs), signaling a significant commitment from institutional investors. In the last three trading days alone, OI has grown by 19,120 BTCâ the highest 3-day increase since June 2023.
The growth is clearly driven by active/direct market participants â not inflows to futures-based ETFs.
OI within this cohort has surged by 19,120 BTC in the past three trading days.
This is the biggest 3-day growth since June 2023.
Activity is structured around Nov expiry. pic.twitter.com/KO4DD3Pul7
â Vetle Lunde (@VetleLunde) October 16, 2024
Notably, the NovemberâŠ
The post CME Bitcoin Open Interest Hits Record High on Institutional Demand appeared first on Coin Edition.