Open interest in Bitcoin futures on the CME rose above 100,000 BTC for the first time, noted Vetle Lunde, a K33 Research analyst.
CME BTC futures OI has breached 100k BTC for the first time ever.
While offshore perp OI shrank by 26,735 BTC yesterday, CME’s OI grew by 4,380 BTC. pic.twitter.com/kjKBRYCoSX
— Vetle Lunde (@VetleLunde) October 24, 2023
In his observations, open interest on the platform rose by 4,380 BTC over the past 24 hours.
The aggregate open interest in perpetual contracts on offshore exchanges fell by 26,735 BTC over the same period.
As a result, CME’s share of this metric rose to a record 25%, close to Binance’s 29%.
A similar situation unfolded in the Bitcoin options market, according to The Block. Deribit’s open interest (OI) stood at $12.4 billion, approaching historic highs.
The platform’s CEO Luuk Strayers explained that the uptick in activity was driven by expectations of approval for the spot Bitcoin-ETF.
According to the publication, professional traders have grown more optimistic. In interviews, sources said new buyers have entered the market and are rapidly buying calls.
As reported, on October 23 the proposed BlackRock ETF — iShares Bitcoin Trust — appeared in списке активов DTCC, for which the company provides post-trade, clearing and settlement services.
Earlier, Matrixport analysts forecast a rise in digital gold if the product is approved to $42 000-56 000. CryptoQuant reported values at $50 000-73 000.