CME Tops in Bitcoin Futures Rankings Amid Rapidly Growing Institutional Interest
The Chicago Mercantile Exchange has become the largest bitcoin futures exchange by open interest amid institutional onboarding.
With all this bullish bitcoin activity, the ETH/BTC pair has gone bearish, a sign traders are selling ether for bitcoin.
The Chicago exchange has now traded 77 ETH contracts after going live on Sunday.
The difference between bitcoin futures premium on CME and other crypto exchanges has widened since the end of March, when Bill Hwang’s troubles surfaced.
Investor excitement ahead of the CME's planned ether futures contract is one reason for the price push.
Chicago Mercantile Exchange now tops the list of the biggest bitcoin futures trading platforms, accounting for nearly 20% of all open interest.
The largest U.S. regulated market for bitcoin futures has been sounding out cryptocurrency traders to gauge their interest in a listing of futures and options on the Ethereum blockchain’s native tokens.