Expert detects revival in institutional demand for Bitcoin

Open interest (OI) in perpetual Bitcoin futures on Deribit has reached $740 million — the highest mark since November 2021. Keyrock representative Justin d’Anetan увидел in the unfolding rise of institutional participation in the crypto market.

“It’s hard not to notice the substantial premium on CME contracts, suggesting that some large and sophisticated players are interested in Bitcoin,” said d’Anetan.

The following chart illustrates that open interest for asset managers at the CME stands at ~2.2 billion.

A top executive at Keyrock suggested that institutionalisation is largely driven by the prospect of approval of ETF in the United States. In d’Anetan’s view, the regulator will give the green light in mid- or late January.

Earlier Fidelity Investments filed for the registration of a spot ETF based on the first cryptocurrency, doing so after BlackRock.