According to CME, bitcoin open interest spiked on June 17 with an all-time high of 5,311 contracts totalling 26,555 BTC, or approximately $246 million at press time.
Futures are standardized contracts that bind a party to buying or selling some asset at a predetermined date.
Notably, the CME group also remarked in the Twitter post that BTC futures appears to be gaining popularity with institutional investors.
Major United States bank JPMorgan Chase executive Nikolaos Panigirtzoglou has also recently commented in a report on the state of bitcoin, saying that BTC markets appear to be increasingly influenced by institutional investors.
While CME is noticing increased interest and positions, the Cboe Global Markets settled its last bitcoin futures contracts at 3 p.m. Chicago time today.
Many have speculated that Facebook's recent cryptocurrency announcement will propel markets forward.
Yesterday the social media giant released the white paper for its own stablecoin, Libra, which financial analyst Tom Lee says is evidence of mainstream interest in crypto.
BTC is currently trading around $9,290, up 2.55% on the day.
CME: Open Interest in Bitcoin Futures Contracts Hit All-Time High
Published on Jun 19, 2019
by Cointele | Published on Coinage
Coinage
Mentioned in this article
Recent News
View All
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.