Bitcoin futures open interest continues to remain high after the launch of the first bitcoin exchange-traded fund (ETF) on October 22. While Binance orders $ 5.81 billion and leads the pack, CME Group holds the second position in terms of open bitcoin futures. interest (OI) with $ 4.1 billion or 16.84% of the total OI.
Top Ten Derivatives Platforms Command More Than 97% of Bitcoin Futures Open Interest
Bitcoin derivatives have swelled quite a bit in recent times, and following the launch of the Proshares and Valkyrie bitcoin futures ETFs, bitcoin futures have seen significant market action. Following the launch of the Valkyrie ETF (Nasdaq: BTF), analyst group Skew tweeted that CME Group’s OI bitcoin futures have hit a new all-time high.
During the first week of November, bitcoin futures open interest across all the crypto derivatives platforms is $24.32 billion according to coinglass.com statistics. The top ten derivatives platforms offering bitcoin futures command $ 23.68 billion, or over 97% of the OI. The cryptocurrency trading platform Binance is the leader in terms of bitcoin futures with $73 billion in global volume among 54 different crypto markets.
CME Group’s Bitcoin Futures Opens Interest Over 16% of Entire OI
In terms of bitcoin futures, Binance owns 5.81 billion IOs, which is 23.9% of all BTC futures positions. Meanwhile, the world’s largest financial derivatives exchange, Chicago Mercantile Exchange (CME) Group, captures 16.84% or $4.1 billion in open interest.
Leaving Binance and CME Group aside, the top ten crypto derivative platforms in terms of bitcoin futures OI include exchanges such as FTX ($ 3.84 billion), Bybit ($ 3.63 billion) , Okex ($ 2.21 billion), Deribit ($ 1.49 billion), Bitfinex ($ 827.71). M), Bitmex ($ 752.43 million), Bitget ($ 557.5 million) and Huobi ($ 485.59 million).
Bitcoin ETF Markets Follow Spot Market Trends
In terms of crypto derivatives, 627 crypto futures, and perpetuals across the board, FTX holds the second-largest global volume below Binance with $13.4 billion in 24 hours. Also, just like the period of bitcoin spot market (BTC) consolidation, the bitcoin futures ETFs of Proshares (NYSE: BITO) and Valkyrie have followed similar paths.
While BITO swapped at a high of $43.28 in October, shares are currently swapping for $39.30. The BTF exchange traded fund peaked at $ 25.25 but is now changing hands to $ 24.23.
