CME Emerges as Second-Largest Bitcoin Futures Exchange, Approaches Top Spot

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By BitcoinWiki News

Key Takeaways:

– CME has become the second-largest Bitcoin futures exchange with a notional open interest (OI) of $3.54 billion.
– Binance remains the largest Bitcoin futures exchange with an OI of $3.83 billion.
– CME’s cash-settled futures contracts have surpassed the 100,000 BTC mark for the first time.
– CME now commands a lifetime high share of 25% in the BTC futures market.
– Some market observers interpret CME’s rise as a sign of an institutional-led rally.
– Bitcoin’s value has increased by 27% this month, driven by macroeconomic uncertainty and optimism surrounding spot ETFs.
– Retail investors have also played a role in the Bitcoin rally, as evidenced by the surge in futures-based ETFs.
– Analysts believe CME’s rise is a result of unwinding bearish positions on offshore exchanges rather than long futures positions.
– The anticipation of a spot ETF approval has led to a surge in Bitcoin’s price.


The Chicago Mercantile Exchange (CME) has become the second-largest Bitcoin futures exchange with a notional open interest of $3.54 billion, rising from the fourth position, according to data from Coinglass. However, Binance still holds the top spot with an open interest of $3.83 billion. CME’s cash-settled futures contracts recently surpassed 100,000 BTC for the first time on record and the exchange now commands a lifetime high share of 25% in the BTC futures market. Some market observers see CME’s rise as a sign of an institutional-led rally. However, Andre Dragosch, head of research at Deutsche Digital Assets, believes CME’s rise is due to unwinding bearish positions on offshore exchanges rather than long futures positions. The surge in Bitcoin’s price has been driven by ongoing macroeconomic uncertainty, optimism for spot ETFs, and retail investors’ involvement in futures-based ETFs. The anticipation of a spot ETF approval has also led to a surge in Bitcoin’s price in recent weeks.

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