Bitcoin

<h2 id="quick-take">Quick Take</h2> 
<p>The interest in Bitcoin is on an upward trajectory, a trend palpable in the <a href="https://cryptoslate.com/insights/bitcoins-dominance-hits-highest-level-since-april-2021-as-ethereum-suffers/">recent data</a> analysis. One aspect that has drawn media attention, including <a href="https://cryptoslate.com/bitcoin-jumps-4k-in-4-hours-as-it-touches-35k-on-blackrock-seeding-anticipation/">CryptoSlate</a>, is the potential approval of a Bitcoin spot Exchange Traded Fund (ETF). This development could act as a springboard, propelling Bitcoin into the mainstream financial ecosystem by providing a regulated and simplified method of investment.</p> 
<div class="css-1dbjc4n r-1awozwy r-18u37iz r-dnmrzs"> 
 <p class="css-901oao r-1awozwy r-18jsvk2 r-6koalj r-37j5jr r-1inkyih r-b88u0q r-rjixqe r-bcqeeo r-1udh08x r-1ddef8g r-3s2u2q r-qvutc0" dir="ltr">The Chicago Mercantile Exchange (CME), a favorite platform among institutions, has seen its open interest exceed 100,000 Bitcoin, which is approximately equivalent to $3.1 billion. Approximately 27% of the total open interest now resides with CME, marking the highest level ever recorded.</p> 
</div> 
<figure id="attachment_367629" aria-describedby="caption-attachment-367629" style="width: 100%" class="wp-caption aligncenter">
 <img class="wp-image-367629 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/10/FOI.png" alt="Futures Open Interest, CME: (Source: Glassnode)" width="1800" height="1013" srcset="https://cryptoslate.com/wp-content/uploads/2023/10/FOI.png 1800w, https://cryptoslate.com/wp-content/uploads/2023/10/FOI-300x169.png 300w, https://cryptoslate.com/wp-content/uploads/2023/10/FOI-1024x576.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/10/FOI-768x432.png 768w, https://cryptoslate.com/wp-content/uploads/2023/10/FOI-1536x864.png 1536w" sizes="(max-width: 1800px) 100vw, 1800px">
 <figcaption id="caption-attachment-367629" class="wp-caption-text">
  Futures Open Interest, CME: (Source: Glassnode)
 </figcaption>
</figure> 
<p>On the other hand, Binance holds an open interest of about 112,000 Bitcoin, accounting for just under 30% of the market, a figure nearing its lowest point for the year to date. An exciting disparity is beginning to emerge between Binance and CME.</p> 
<figure id="attachment_367636" aria-describedby="caption-attachment-367636" style="width: 100%" class="wp-caption aligncenter">
 <img class="wp-image-367636 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/10/Bin-1.png" alt="Futures Open Interest, Binance: (Source: Glassnode)" width="1800" height="1013" srcset="https://cryptoslate.com/wp-content/uploads/2023/10/Bin-1.png 1800w, https://cryptoslate.com/wp-content/uploads/2023/10/Bin-1-300x169.png 300w, https://cryptoslate.com/wp-content/uploads/2023/10/Bin-1-1024x576.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/10/Bin-1-768x432.png 768w, https://cryptoslate.com/wp-content/uploads/2023/10/Bin-1-1536x864.png 1536w" sizes="(max-width: 1800px) 100vw, 1800px">
 <figcaption id="caption-attachment-367636" class="wp-caption-text">
  Futures Open Interest, Binance: (Source: Glassnode)
 </figcaption>
</figure> 
<p>The post <a rel="nofollow" href="https://cryptoslate.com/insights/cme-sees-over-100k-btc-in-open-interest-amidst-rising-institutional-interest/">CME sees over 100k BTC in open interest amidst rising institutional interest</a> appeared first on <a rel="nofollow" href="https://cryptoslate.com">CryptoSlate</a>.</p>

CME sees over 100k BTC in open interest amidst rising institutional interest

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