Open interest in CME bitcoin futures hits a record high

The number of holders of at least 25 Bitcoin futures in April–June rose to a record 107, for Ethereum 62. The data come from CME, CoinDesk reports.

A standard Bitcoin futures contract is equivalent to 5 BTC, and Ethereum futures to 50 ETH.

Open interest (OI) on standard futures for digital gold in the first half of the year averaged at a historic high of 14,800 contracts (+15% vs 2022). Open interest for Bitcoin options reached a record 9,400 contracts (+175% vs 2022).

“Institutional interest grew throughout the quarter as investors sought regulated venues and products for hedging in light of rising volatility,” the platform’s representatives explained.

Trading volumes also rose, including both futures and options on cryptocurrencies.

As reported, on July 31 trading will begin for the Ethereum-to-Bitcoin ratio based on their futures. The initiative requires regulatory approvals.