CME BTC Futures OI Hits Record 100k BTC!

Author: Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Oct 24, 2023 16:03

CME’s Bitcoin futures open interest (OI) has surged past 100,000 BTC for the first time ever. The growth in OI comes at a time when offshore perpetual open interest shrank drastically. Yesterday, Binance witnessed a drop in open interest by 26,735 BTC, while CME grew by 4,380 BTC. The surge in OI brought CME’s market share to an all-time high of 25%, rapidly approaching Binance (Perps + Futures). Alongside the growth in OI, Bitcoin’s 1-month annualized futures premium has climbed to 13%, which is significantly higher than Ethereum. This latest development highlights the increasing demand for Bitcoin futures among institutional investors.