Open interest in Binance and CME futures hits record highs

Against the backdrop of Bitcoin’s price returning to above $60,000, open interest (OI) on Binance and CME exchanges reached record highs.

On 17 October, OI on Binance surpassed $5.5 billion.

The corresponding figure on the regulated platform CME reached $3.66 billion.

In recent months, open interest on the Chicago Mercantile Exchange has grown notably among institutional players in the Commercial category. They are predominantly long over short.

Notably, activity among institutional players trading Bitcoin microfutures has picked up. However they are dominated by short positions.

Among major players in the Non-Commercial category and small investors (Nonreportable), shorts and longs traditionally predominate, respectively.

In April, the U.S. Securities and Exchange Commission quietly approved the launch of ProShares’ Bitcoin futures ETF. Trading of the new instrument is expected today, October 19.

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