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Election 2024

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.

By Muyao Shen
AccessTimeIconDec 29, 2020 at 2:39 p.m. UTC
Updated Aug 19, 2021 at 6:23 a.m. UTC
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The Chicago Mercantile Exchange (CME) has become the largest bitcoin futures exchange by number of open contracts as institutional interest in bitcoin continues to grow.

  • As of Tuesday, open interest on the CME stood at $1.66 billion, the highest among the major derivatives exchanges that including OKEx, Binance and Bybit, according to data from crypto data analytic site Skew.
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    • Bitcoin futures open interest on major exchanges
    Bitcoin futures open interest on major exchanges
    • CME now accounts for 18.1% of the total global open interest on Tuesday, currently sitting at approximately $9.18 billion.
    • Skew's data also shows that CME logged the highest trading volume for its bitcoin futures contracts on Dec. 28.
    Open interest and trading volumes of bitcoin futures on CME since January
    Open interest and trading volumes of bitcoin futures on CME since January
    • "Institutional investors were eager to trade bitcoin again yesterday after a few days off," Norwegian cryptocurrency analysis firm Arcane Research wrote in a tweet earlier Tuesday.
    • CME's bitcoin futures products have seen rapid growth this year because of a surge in institutional capital inflows to the No. 1 cryptocurrency by market capitalization and its derivative markets.
    • Bitcoin's price passed $28,000 on Sunday, and many have attributed the price rally to the new institutional money flowing to the cryptocurrency.

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