CME Rises to Second-Largest Bitcoin Futures Exchange on Open Interest Surge

CME Bitcoin futures open interest has surged, allowing the platform to capture a 25% market share in Bitcoin futures. As of October 30, CME’s open interest reached $3.58 billion, moving it up to the second position among BTC futures exchanges.


It’s now just a few million dollars behind Binance, which has $3.9 billion in open interest, surpassing Bybit and OKX with $2.6 billion and $1.78 billion, respectively. This signifies CME’s growing influence in the Bitcoin futures market.

Bitcoin Futures Exchange rankings by Open Interest. Source: Coinglass

CME offers two types of Bitcoin futures contracts: the standard contract, which is worth five BTC, and the micro contract, which is one-tenth the size of a standard Bitcoin. In contrast, offshore exchanges primarily focus on perpetual futures contracts, which do not have an expiration date and use a funding rate method to maintain their price parity with the market.

Bitcoin open interest reflects the total number of outstanding Bitcoin futures or options contracts in the market. It measures the capital invested in Bitcoin derivatives at a specific time, indicating the capital inflow and outflow. Increasing open interest signifies bullish sentiment, while declining open interest suggests growing bearish sentiment.

CME’s rising open interest has not only propelled it to the second spot among cryptocurrency futures exchanges but also led to its cash-settled futures contracts exceeding 100,000 BTC in volume. This increased trader interest in Bitcoin futures has enabled CME to capture 25% of the Bitcoin futures market share.

Most of the investment in CME futures comes through standard contracts, reflecting a surge in institutional interest, particularly as Bitcoin experienced a significant double-digit price increase in October, reaching a new one-year high above $35,000.

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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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