According to the latest data analysis of Glassnode, with the launch of the Bitcoin ETF, CME Group BTC futures open interest and trading volume both reached new highs.
Since the BITO ETF used CME Group futures contracts as the underlying, it stimulated an explosive rise in open interest in October, increasing by US$3.95 billion (265%). Created a record high of open positions on CME exchange futures, which was 5.44 billion U.S. dollars.
In addition, transaction volume also reached a new high of $7.66 billion on October 20, the same day that Bitcoin reached a record high. Compared with the previous peak set in February 2021, traders’ trading volume on CME futures increased by $490 million.
However, the proportion of futures margin collateralized by highly volatile cryptocurrency assets continues to decline. Cryptocurrency collateralized futures contracts. It has dropped from 70.1% in April (at the time of Coinbase’s listing) to 44.6% today.