According to Vetle Lunde, a researcher at investment institution K33 Research, the OI (Open Interest) of Bitcoin futures on the CME Group exceeded 100,000 BTC (Bitcoin) for the first time in history.
CME Bitcoin futures market sees surge in interest
Vetle Lunde observes that while perpetual contract open interest in the offshore market decreased by 26,735 BTC, CME Group’s open interest increased by 4,380 BTC.
According to statistics, CME Group’s Bitcoin futures market share has climbed to a record high of 25%, close to Binance’s 29% market share.
The significance of CME Group’s increase in market share
Vetle Lunde said that CME Group has an 80% market share in the traditional futures market, and he believes that the offshore market has completely transferred to the perpetual contract market.
As CME Group’s open interest grows, BTC’s first-month annualized futures premium has climbed to 13%, much higher than ETH.
Even on CME, traders appear to be hedging BTC positions with ETH, and it will be interesting to see what happens with expiry dates this week.
