Bitcoin Futures Volume Surges 186% as Price Hits $11K
The market for bitcoin futures snapped back to life on Monday as the cryptocurrency's price surged to an 11-month high.
The funds likely boosted short positions to take advantage of attractive "cash and carry" yields.
Record open interest in ether derivatives suggests the recent price rally has legs.
Bitcoin’s latest price drop may have a silver lining.
Institutional exchange CME has become the third-largest bitcoin futures exchange by number of open contracts.
Surging open interest in crypto derivatives suggests investors are seeking alpha in other investments, like bitcoin, said the co-founder of an index fund provider.