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CME Group Report : Increasing Open Interest In Bitcoin Futures Adoption.
2019-06-20 | Eddy Morgan
In line with a recent 'official twitter post', the CME group [Chicago Mercantile Exchange] has published a report showing that the open interest in Bitcoin futures is rising.
As per CME, Bitcoin [BTC] open interest significantly hiked on 17th June with an all time incomparable high of 5,311 contracts summing to around 26,555 Bitcoins [BTC], or about $246 Mln at the reporting time.
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Increasing Adoption Rate Of Bitcoin Futures : CME Group Analysis.[/caption]
Futures are standardized contracts that bind a party to purchasing or selling some assets at a proposed date. Moreover, the CME Group additionally noted within the Twitter post that BTC futures seems to be gaining popularity among the institutional investors.
Leading U.S. bank’ JPMorgan Chase’ [JPM] official named ‘Nikolaos Panigirtzoglou’ has additionally recently 'commented' in a very report on the state of bitcoin, expressing that the BTC markets seems to be progressively influenced by the institutional investors.
While CME is outlining increased interest and positions, the Cboe international Markets 'settled' its last bitcoin futures contracts at 3 p.m. as per the Chicago time recently.
However, several have 'speculated' that 'Facebook’s' recent cryptocurrency announcement can might propel markets forward. Yesterday the social media giant published its official 'white-paper' for its own crypto-currency project, named ‘Libra’, that renowned financial analyst Tom Lee 'stated' is a proof of mainstream interest within the crypto sector.
At the reporting time, BTC is presently trading at a price around '$9,298.42 USD', which is up by 1.40% on the day.
