Open interest in CME Bitcoin futures fell by about 24% after the spot Bitcoin ETF began trading
According to data compiled by Bloomberg, 10 spot Bitcoin ETFs that began trading three weeks ago have led to a decrease of about 24% in open contracts for CME Bitcoin futures as of January 30th. Last year, Bitcoin saw a historic high in open contracts after a 157% surge due to ETF expectations. Vetle Lunde, senior analyst at K33 Research, suggests that investors turning to US ETFs and a cooling off of Bitcoin's rise may lead to a decrease in activity for CME Bitcoin futures, but they still remain a key source of liquidity in the cryptocurrency market. He notes their potential role as hedging tools for authorized participants creating and redeeming ETF units.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Martingale bot upgraded–simpler setup, more flexible features
Stock Futures Rush (phase 9): Trade popular stock futures and share $240,000 in equivalent tokenized shares. Each user can get up to $5000 META.
CandyBomb x POWER: Trade to share 4,387,500 POWER
New users get a 100 USDT margin gift—Trade to earn up to 1888 USDT!
Trending news
MoreCrypto prices
More
