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Open interest in Bitcoin options increases 50% to $ 1.5 billion within a month

June 10, 2020

After the last one Data from the market analysis company Skew, Total open interest in Bitcoin (BTC) options exceeded $ 1.5 billion on June 9. This happens just a month after open interest has exceeded $ 1 billion for the first time, an increase of 50% in just 33 days.

50% more in a month, led by two players

Total open interest in Bitcoin options hit $ 1 billion for the first time on May 7. A little over a month later Deribit alone has an open interest of $ 1.1 billion and the total open interest has exceeded $ 1.5 billion.

However, the 20% rise in deribit from $ 903 million during the month wasn’t the biggest story.

Open interest in Bitcoin options increases 50% to $ 1.5 billion within a monthOpen interest in Bitcoin options increases 50% to $ 1.5 billion within a month

Chicago Mercantile Exchange (CME) has increased its open interest in Bitcoin options by more than 850% during that time. This was $ 38 million on May 7, but CME had open positions of $ 368 million on June 9.

CME as the target of the crown of options?

As Cointelegraph reported In the first half of May alone, open interest in CME’s Bitcoin options rose a whopping 1,000% from $ 12 million to $ 142 million.

While the recent numbers are unable to maintain this level of growth, they show that CME’s options are by no means out.

Of the other major players in the BTC options market, LedgerX’s open interest remained virtually unchanged at $ 52 million from May 7, while OKEx declined 15% to $ 65 million.

Bakkt, an outlier in this area, also saw open positions decrease from $ 80,000 to $ 68,000.

Despite this, The performance of Deribit and CME shows that Bitcoin options are a rapidly growing market sector.