Open Bets On CME’s Bitcoin Futures Hit Record High

As reported by CoinDesk, “The open interest in CME Bitcoin Futures contract hit a record high last Friday.

“The total figure of 5,190 for the period between May 27 to June 3 represents the largest number of open interest, or contracts outstanding, in CME bitcoin futures ever and a 7 percent gain on the week prior, according to data from the Commodity Futures Trading Commission.

“May 31 marked the last day of trading on the CME futures markets before contract settlements, which are set to take place at the end of today’s (June 3) trading session.

“The sharp rise in the futures trading activity could be a sign of increased institutional participation in the cryptocurrency markets. It is worth noting that futures were listed on the CME at the height of the bull market in December 2017. The futures trading activity, however, remained dull throughout 2018, courtesy of the bear market.”

Continue to read the full story at CoinDesk.

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