In terms of open positions, the Chicago Mercantile Exchange (CME) has become the second largest derivatives market for Bitcoin futures. Since the recent Paypal announcement and Bitmex crash, this popular exchange has flooded in demand.

  • The data shows that since being accused of operating illegally in the United States, the Bitcoin Commodity Exchange (Bitmex) Bitcoin futures open positions have decreased significantly.
  • The increase in CME Group’s holdings began on October 10, at Skew.com. Reported The exchange added “nearly 1,500 contracts when it expires in October.”
  • Since its launch in 2017, CME Group has spent three years catching up with other Bitcoin derivatives markets. In terms of open positions, CME Group is now the second largest Bitcoin futures market leader after Okex.

CME Group's Bitcoin futures rise shows institutional investors are starting to flock to cryptocurrencies

  • Statistics from Skew.com show that CME Group’s Bitcoin futures contract is worth nearly $800 million this week.
  • Close to 800 million US dollars, accounting for more than 15.9% of the total open positions on 12 derivatives exchanges.
  • In terms of open positions, the exchanges of Okex and CME include: Binance, Bitmex, Bybit, Huobi, FTX, Derbit, Bitfinex, Kraken, Bakkt and Coinflex.
  • Bitcoin supporters and celebrities believe that CME Group’s open positions stemmed from banks and institutions starting to support cryptocurrencies.
  • Chamath Palihapitiya, CEO of Social Capital Said: “After Paypal’s announcement, major banks are meeting to discuss how to support Bitcoin. It is no longer optional.”
  • In terms of total Bitcoin futures trading volume, CME Group still lags behind the other eight derivatives exchanges. The top three Bitcoin futures trading platforms by trading volume this week include Binance, Huobi and Okex.
  • While holdings in CME Group’s Bitcoin futures derivatives contracts increased, the price of Bitcoin (BTC) increased by 14.21% in the past seven days.
  • On Saturday, Skew.com posted CME’s Commitment to Trader (COT) report on Twitter. “The latest CME Group Bitcoin Futures COT report-net short positions in leveraged funds and net short positions in institutions,” Skew Tweet. “As the market rebounds, basic trading pairs are becoming more attractive to hedge funds, and the current yield is over 10%.
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What do you think of CME Group’s Bitcoin futures open positions over Bitmex this week? Tell us what you think in the comments section below.

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Bakkt, Binance, Bitcoin, Bitcoin derivatives, Bitcoin futures, Bitcoin market, BitFinex, BitMex, BTC, Bybit, Chamath Palihapitiya, Chicago Mercantile Exchange, CME Group, Coinflex, deribit, ftx, Huobi, Kraken, Okex, Skew, Skew.com

Picture Credits: Shutterstock, Pixabay, Wiki Commons, Skew.com, Twitter,

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