Bitcoin futures open interest continues to stay high after the launch of the very first bitcoin exchange-traded fund (ETF) on October 22. While Binance commands $5.81 billion and leads the pack, CME Group holds the second-largest position in regards to bitcoin futures open interest (OI) with $4.1 billion or 16.84% of the aggregate OI.
Top Ten Derivatives Platforms Command More Than 97% of Bitcoin Futures Open Interest
Bitcoin derivatives have actually swelled a fair bit in current times, and following the launch of the Proshares and Valkyrie bitcoin futures ETFs, bitcoin futures have actually seen considerable market action. After Valkyrie’s ETF (Nasdaq:BTF) released, the analytics group Skew tweeted that CME Group’s bitcoin futures OI reached a brand-new all-time high.
During the very first week of November, bitcoin futures open interest throughout all the crypto derivatives platforms is $24.32 billion according to coinglass.com stats. The leading 10 derivatives platforms using bitcoin futures command $23.68 billion or more than 97% of the OI. The cryptocurrency trading platform Binance is the leader in regards to bitcoin futures with $73 billion in international volume amongst 54 various crypto markets.
CME Group’s Bitcoin Futures Open Interest More Than 16% of Aggregate OI
In regards to bitcoin futures, Binance holds 5.81 billion in OI which represents 23.9% of all the BTC futures positions. Meanwhile, the world’s biggest monetary derivatives exchange, Chicago Mercantile Exchange (CME) Group, records 16.84% or $4.1 billion in open interest.
Leaving out Binance and CME Group, the leading 10 crypto derivatives platforms in regards to bitcoin futures OI consist of exchanges such as FTX ($3.84B), Bybit ($3.63B), Okex ($2.21B), Deribit ($1.49B), Bitfinex ($827.71M), Bitmex ($752.43M), Bitget ($557.5M), and Huobi ($485.59M).
Bitcoin ETF Markets Follow Spot Market Trends
In regards to crypto derivatives, 627 crypto futures, and perpetuals throughout the board, FTX holds the second-largest international volume listed below Binance with $13.4 billion in 24 hr. Furthermore, similar to bitcoin’s (BTC) area market combination duration, the bitcoin futures ETFs from Proshares (NYSE:BITO) and Valkyrie have actually followed comparable courses.
While BITO switched at a high of $43.28 in October, shares are presently switching for $39.30. The exchange-traded fund BTF struck a high of $25.25 however is now altering hands for $24.23.
What do you consider the bitcoin futures action throughout the last couple of weeks following the ETF launches? Let us understand what you consider this topic in the remark area listed below.
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