Bitcoin Futures Premium on CME Surges as ETF Speculation Grips Market

Posted on by American Coins & Gold

Bitcoin Futures Premium on CME Surges as ETF Speculation Grips Market
Bitcoin’s latest breakout above $50,000 seems to be backed by renewed institutional buying.Front-month bitcoin futures contracts based on the Chicago Mercantile Exchange (CME) are currently trading at an annualized premium of 12.8% to the spot price. That’s the highest since mid-April and marks a significant rise from the discount of 0.36% seen a week ago, according to data provided by the derivatives research firm Skew.The increase in premium “suggests that there is high demand among the CME traders to build long exposure in bitcoin at the moment,” Arcane Research’s weekly research note published Tuesday said. “The front-month contract on CME…