Cryptocurrency
Bitcoin Futures: Institutional Long Positions Value Doubled in October
As reported by Cointelegraph, “One class of investors has more than doubled the value of the long positions it holds in Bitcoin (BTC) futures contracts this month. “According to fresh data from analyst Skew Markets on Oct. 22, the value of institutional investors’ long positions went from below 500 BTC ($4.11 million) on Oct. 1 to […]
As reported by Cointelegraph, “One class of investors has more than doubled the value of the long positions it holds in Bitcoin (BTC) futures contracts this month.
“According to fresh data from analyst Skew Markets on Oct. 22, the value of institutional investors’ long positions went from below 500 BTC ($4.11 million) on Oct. 1 to over 1,000 BTC ($8.23 million) on Oct. 16.
“The gains reverse a decline in institutional longs from September. The launch of Bitcoin futures from Bakkt coincided with open interest falling from around 1,300 BTC.
“’For reference, institutions include pension funds, endowments, insurance companies, mutual funds & portfolio/investment managers whose clients are predominantly institutional,’ Skew clarified.
“Bitcoin futures were thought to have taken a longer-term break from being top of the agenda for institutional investors in the face of last month’s Bitcoin price downturn.”
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