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Bitcoin options experienced “rapid” growth in the second quarter, and CME open interest exceeded $ 259 million

June 5, 2020

Interest in Bitcoin (BTC) derivatives growing “rapidly” this quarterNew data show that the CME Group is a leader in options.

According to the monitoring resource Aslant, The past few weeks have shown that CME is dramatically increasing its open interest share for Bitcoin options.

The dominance of the CME market is increasing

Open interest refers to the total volume of derivative contracts that have not yet been settled. CME had reached all-time highs in early May, but has dramatically expanded its presence since then.

Bitcoin options experienced “rapid” growth in the second quarter, and CME open interest exceeded $ 259 millionBitcoin options experienced “rapid” growth in the second quarter, and CME open interest exceeded $ 259 million

As of June 4, open interest was $ 256 million, just USD 3 million from all-time highs. Vice versa, At the beginning of 2019, CME had a minimum of USD 2 million in open interests.

“”Open interest in Bitcoin options is growing rapidly this quarter“Skew summarized the broader open interest trend.

More view of the panorama, The market is still dominated by futures traders. Most of the open interest belongs to Deribit, with OKEx and LedgerX also being the main players.

BakktThe other well-known non-stock futures platform has negligible numbers compared to CME an open interest that recently reached $ 69,000.

Bitcoin options open the interest rate comparison

Comparison of the open positions of Bitcoin options. Source: Skew / Twitter

Focus on the attractiveness of BTC derivatives

As Cointelegraph reported, there are high expectations Trading in derivatives will continue to put Bitcoin in the spotlight in the future Next one.

A report on coin metrics this week was highlighted the ecosystem as the main cause of the total trading volume of Bitcoin.

“Like other asset classes, The derivative markets in Bitcoin are many times larger than spot markets“he defined.

“When the reported volumes are created, it may be the most efficient to engage through derivatives markets.”