{"id":560153,"date":"2023-11-10T20:00:40","date_gmt":"2023-11-10T20:00:40","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=560153"},"modified":"2024-06-11T06:59:43","modified_gmt":"2024-06-11T06:59:43","slug":"cme-overtakes-binance-in-bitcoin-futures-crypto-investments","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/cme-overtakes-binance-in-bitcoin-futures-crypto-investments\/","title":{"rendered":"CME Overtakes Binance In Bitcoin Futures: A New Era For Institutional Crypto Investments?"},"content":{"rendered":"

The Chicago Mercantile Exchange (CME) has recently clinched the title of the largest Bitcoin futures exchange by open interest, overtaking<\/a> the renowned crypto exchange, Binance.<\/p>\n

Data<\/a> from Coinglass reveals that CME’s open positions have reached roughly $4.04 billion across 108,900 Bitcoin contracts, accounting for 24.22% of the entire Bitcoin futures market.<\/p>\n

Open interest<\/a> in the context of futures trading refers to the total number of outstanding derivative contracts, such as futures, that have not yet been settled. This metric is crucial as it indicates the market’s liquidity level and trading activity.<\/p>\n

Related Reading: Bitcoin On The Brink? Analyst Predicts Soaring Open Interest May Signal 20% Price Correction<\/a><\/div>\n

For BTC futures, it represents the total value of all positions yet to be closed, offering insights into market sentiment and investor behavior. The rise of CME to the top position signifies a notable shift in the market dynamics, indicating a growing preference<\/a> among institutional investors for regulated derivatives products.<\/p>\n

Institutional Appetite For BTC And Implications For SEC Spot ETF Approvals<\/h2>\n

Binance, once the leader in BTC futures open interest, now trails CME with $3.90 billion in open interest, comprising 23.37% of the total market. This change underscores a significant trend: institutional investors increasingly favor Bitcoin as an investment vehicle, as evidenced by entities like MicroStrategy.<\/p>\n

This enterprise software company, known for its substantial Bitcoin holdings, recently acquired<\/a> an additional 155 BTC for $5.3 million. With Bitcoin’s current trading price above $37,000, MicroStrategy’s investment boasts<\/a> roughly $1.1 billion in paper profits, underscoring the asset’s appeal to corporate investors.<\/p>\n

\n

In October, @MicroStrategy<\/a> acquired an additional 155 BTC for $5.3 million and now holds 158,400 BTC. Please join us at 5pm ET as we discuss our Q3 2023 financial results and answer questions about the outlook for #BusinessIntelligence<\/a> and #Bitcoin<\/a>. $MSTR<\/a> https:\/\/t.co\/w7eRUcGobi<\/a><\/p>\n

\u2014 Michael Saylor\u26a1\ufe0f (@saylor) November 1, 2023<\/a><\/p><\/blockquote>\n

The overtaking of Binance by CME in Bitcoin futures open interest has captured market participants’ attention and raised crucial questions among regulatory observers.<\/p>\n

Related Reading: Crypto\u2019s Current Climb: JPMorgan Suggests Rally May Be Reaching Its Peak<\/a><\/div>\n

Notably, Bloomberg Intelligence ETF research analyst James Seyffart, echoing sentiments from Will Clemente<\/a>, has speculated on\u00a0whether CME’s growing Bitcoin futures open interest might address the US Securities and Exchange Commission’s (SEC) concerns<\/a> about market depth and potential manipulation in Bitcoin markets.<\/p>\n

\n

Okay this is interesting… Does this constitute ‘market of significant size’ now? haha https:\/\/t.co\/eQb7QXvO3H<\/a><\/p>\n

\u2014 James Seyffart (@JSeyff) November 9, 2023<\/a><\/p><\/blockquote>\n

This shift in market leadership from a crypto exchange like Binance to a traditional and regulated derivatives marketplace like CME could signal<\/a> a maturing BTC market. Such a development might influence the SEC’s stance on approving spot Bitcoin ETFs.<\/p>\n

Bitcoin Latest Price Action<\/h2>\n

While CME is overthrowing Binance regarding Bitcoin’s open interest, the crypto asset has recently reclaimed its $37,000 zone in the past hours after retracing slightly below that price mark following the quick spike<\/a> on Thursday.<\/p>\n

\"Bitcoin
Bitcoin (BTC) price is moving sideways on the 4-hour chart. Source: BTC\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Notably, BTC currently trades for $37,350 at the time of writing, up by 2.1% in the past 24 hours and nearly 10%<\/a> over the past 7 days.<\/p>\n

Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

The Chicago Mercantile Exchange (CME) has recently clinched the title of the largest Bitcoin futures exchange by open interest, overtaking the renowned crypto exchange, Binance. Data from Coinglass reveals that CME’s open positions have reached roughly $4.04 billion across 108,900 Bitcoin contracts, accounting for 24.22% of the entire Bitcoin futures market. Open interest in the context of futures trading refers to the total number of outstanding derivative contracts, such as futures, that have not yet been settled. This metric is crucial as it indicates the market’s liquidity level and trading activity. Related Reading: Bitcoin On The Brink? Analyst Predicts Soaring Open Interest May Signal 20% Price Correction For BTC futures, it represents the total value of all positions yet to be closed, offering insights into market sentiment and investor behavior. The rise of CME to the top position signifies a notable shift in the market dynamics, indicating a growing preference among institutional investors for regulated derivatives products. Institutional Appetite For BTC And Implications For SEC Spot ETF Approvals Binance, once the leader in BTC futures open interest, now trails CME with $3.90 billion in open interest, comprising 23.37% of the total market. This change underscores a significant trend: institutional investors increasingly favor Bitcoin as an investment vehicle, as evidenced by entities like MicroStrategy. This enterprise software company, known for its substantial Bitcoin holdings, recently acquired an additional 155 BTC for $5.3 million. With Bitcoin’s current trading price above $37,000, MicroStrategy’s investment boasts roughly $1.1 billion in paper profits, underscoring the asset’s appeal to corporate investors. In October, @MicroStrategy acquired an additional 155 BTC for $5.3 million and now holds 158,400 BTC. Please join us at 5pm ET as we discuss our Q3 2023 financial results and answer questions about the outlook for #BusinessIntelligence and #Bitcoin. $MSTR https:\/\/t.co\/w7eRUcGobi \u2014 Michael Saylor\u26a1\ufe0f (@saylor) November 1, 2023 The overtaking of Binance by CME in Bitcoin futures open interest has captured market participants’ attention and raised crucial questions among regulatory observers. Related Reading: Crypto\u2019s Current Climb: JPMorgan Suggests Rally May Be Reaching Its Peak Notably, Bloomberg Intelligence ETF research analyst James Seyffart, echoing sentiments from Will Clemente, has speculated on\u00a0whether CME’s growing Bitcoin futures open interest might address the US Securities and Exchange Commission’s (SEC) concerns about market depth and potential manipulation in Bitcoin markets. Okay this is interesting… Does this constitute ‘market of significant size’ now? haha https:\/\/t.co\/eQb7QXvO3H \u2014 James Seyffart (@JSeyff) November 9, 2023 This shift in market leadership from a crypto exchange like Binance to a traditional and regulated derivatives marketplace like CME could signal a maturing BTC market. Such a development might influence the SEC’s stance on approving spot Bitcoin ETFs. Bitcoin Latest Price Action While CME is overthrowing Binance regarding Bitcoin’s open interest, the crypto asset has recently reclaimed its $37,000 zone in the past hours after retracing slightly below that price mark following the quick spike on Thursday. Notably, BTC currently trades for $37,350 at the time of writing, up by 2.1% in the past 24 hours and nearly 10% over the past 7 days. Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":558480,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[10768,428,1119,78790,11529,6664],"class_list":["post-560153","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-binance","tag-bitcoin","tag-btc","tag-btcusdt","tag-cme","tag-crypto"],"acf":[],"yoast_head":"\nCME Overtakes Binance In Bitcoin Futures: A New Era For Institutional Crypto Investments?<\/title>\n<meta name=\"description\" content=\"The Chicago Mercantile Exchange (CME) has recently clinched the title of the largest Bitcoin futures exchange by open interest...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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Edyme","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/shenyangcang.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","caption":"Samuel Edyme"},"description":"Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/shenyangcang.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"CME Overtakes Binance In Bitcoin Futures: A New Era For Institutional Crypto Investments?","url":"http:\/\/shenyangcang.com\/news\/cme-overtakes-binance-in-bitcoin-futures-crypto-investments\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/shenyangcang.com\/news\/cme-overtakes-binance-in-bitcoin-futures-crypto-investments\/"},"thumbnailUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/10\/Bitcoin-Price-Tide.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/10\/Bitcoin-Price-Tide.jpg?fit=900%2C600"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["binance","bitcoin","btc","btcusdt","cme","crypto"],"dateCreated":"2023-11-10T20:00:40Z","datePublished":"2023-11-10T20:00:40Z","dateModified":"2024-06-11T06:59:43Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"CME Overtakes Binance In Bitcoin Futures: A New Era For Institutional Crypto Investments?\",\"url\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/cme-overtakes-binance-in-bitcoin-futures-crypto-investments\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/cme-overtakes-binance-in-bitcoin-futures-crypto-investments\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/Bitcoin-Price-Tide.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/Bitcoin-Price-Tide.jpg?fit=900%2C600\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"binance\",\"bitcoin\",\"btc\",\"btcusdt\",\"cme\",\"crypto\"],\"dateCreated\":\"2023-11-10T20:00:40Z\",\"datePublished\":\"2023-11-10T20:00:40Z\",\"dateModified\":\"2024-06-11T06:59:43Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/shenyangcang.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/10\/Bitcoin-Price-Tide.jpg?fit=900%2C600","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/560153"}],"collection":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/comments?post=560153"}],"version-history":[{"count":0,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/560153\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media\/558480"}],"wp:attachment":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media?parent=560153"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/categories?post=560153"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/tags?post=560153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}