CME Sees Record Open Interest in Bitcoin Futures Ahead of ETF Debut

Posted on by American Coins & Gold

CME Sees Record Open Interest in Bitcoin Futures Ahead of ETF Debut
The amount of money locked in the bitcoin futures contracts on the global derivatives giant Chicago Mercantile Exchange (CME) surged to record highs on Friday as the U.S. Securities and Exchange Commission (SEC) greenlighted futures-based exchange-traded funds (ETF) tied to the cryptocurrency.The dollar value of open interest (OI), or the number of futures contracts traded but not liquidated with an offsetting position, stood at $3.64 billion on Friday, marking a more than two-fold rise for the month, according to data provided by bybt. The previous lifetime high of $3.26 billion was recorded during the bull market frenzy in February.Glassnode data…