The value of open interest for Chicago Mercantile Exchange (CME) Bitcoin (BTC<\/a>) futures is on the upswing, suggesting institutional interest in the top crypto asset.<\/p>\n Data from cryptocurrency derivative data analytics platform CoinGlass<\/a> indicates the value of open interest (OI) for CME Bitcoin futures has reached $4.07 billion, surpassing Binance\u2019s Bitcoin futures OI and taking the top spot in exchange rankings for that metric.<\/p>\n OI represents the total number of outstanding Bitcoin futures contracts.<\/p>\n Crypto analytics firm Glassnode also notes<\/a> that the CME Group\u2019s Bitcoin futures open interest has reached a 27.8% relative dominance level over the sector, an all-time high.<\/p>\n Explains the firm,<\/p>\n \u201cThis suggests a growing presence of institutional investors within the [Bitcoin] derivative space.\u201d<\/em><\/p>\n The CME Group also offers Bitcoin options, micro Bitcoin futures, Ethereum (ETH<\/a>) futures and options, and micro ETH futures and options.<\/p>\n Binance clocks $3.86 billion in total Bitcoin futures open interest at time of writing, according to CoinGlass. The United Arab Emirates-based crypto exchange Bybit ranks third, with $2.69 billion in OI, and Seychelles-based exchange OKX is fourth with $1.81 billion.<\/p>\n Bitcoin is trading at $37,369 at time of writing.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
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