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So far, open interest in Bitcoin options on CME has increased 1000% this month

May 15, 2020

Open interest in bitcoin options on the Chicago Mercantile Exchange has skyrocketed in the past few days, reaching $ 142 million on May 15.

According to Data from the market analysis company Skew, This corresponds to a profit of more than 1000% of only USD 12 million in open interest at the end of April.

The Bitcoin halving sees great interest in options trading

The CME saw an initial increase in options volume on May 5 and 6, with both days rising to $ 10 million. However, on Friday, May 8, the last trading day before Bitcoin was halved, the value fell to $ 1 million.

So far, open interest in Bitcoin options on CME has increased 1000% this month
So far, open interest in Bitcoin options on CME has increased 1000% this month

The volume of options on the day of the halving, May 11, rose again to $ 17 million, and was between $ 30 and $ 40 million on each of the three days since.

This brought an open interest of $ 142 million at yesterday’s close, more than ten times the amount recorded at the end of April.

Institutional investments continue to rise

As Cointelegraph reported Institutional investments in Bitcoin (BTC) have increased before and after halving Bitcoin on Monday.

Companies such as Grayscale and Fidelity Digital in particular have reported increased interest, as has the hedge fund manager Paul Tudor Jones recently stated that almost 2% of his assets are in Bitcoin.

Open interest in CME Bitcoin futures It also reached a historic high last week.