Analyst: Bitcoin spot ETF drives 80% growth in CME Bitcoin futures market open interest

2024-06-20 23:15:40

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ChainCatcher news, according to The Block, CF Benchmarks Chief Research Analyst Gabriel Selby stated that the Bitcoin spot ETF has driven an 80% increase in CME Bitcoin futures open interest year-to-date.

It is reported that the increase in open interest can be attributed to the basis trading between the Bitcoin spot ETF and CME futures contracts to facilitate arbitrage opportunities. This activity by institutional investors can enhance Bitcoin's liquidity and lay the foundation for a stronger and more interconnected market ecosystem.

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