The open interest (OI) in Ethereum futures on the regulated CME exchange is rising rapidly and has already reached $287 million. This is stated in Arcane Research’s report.
Alongside OI, trading volume in these derivatives has risen significantly over the past few weeks.
Analysts noted that the growth of the aforementioned indicators accelerated significantly during the period when Ethereum’s price hit new all-time highs.
“The rise in open interest and trading volume is taking place against the backdrop of the approval of four Canadian Ethereum ETFs last week — from Purpose Investments, CI Global Asset Management, Evolve Funds and 3iQ,” said representatives of Arcane Research.
The launch of cash-settled Ethereum futures on CME took place in February this year.
Earlier today ForkLog reported that the price of ETH hit a new all-time high at $2646.
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