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Nov 08,2021

BTC Futures Open Interest Continues to Rise Following Bitcoin ETF Listings Last Month

Bitcoin prospects open interest keeps on excess high after the dispatch of the first bitcoin trade exchanged asset (ETF) on October 22. While Binance orders $5.81 billion and stands out, CME Group stands firm on the second-biggest foothold as far as bitcoin fates open 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 subsidiaries have expanded a lot lately, and following the dispatch of the Proshares and Valkyrie bitcoin prospects ETFs, bitcoin fates have seen critical market activity. After Valkyrie's ETF (Nasdaq:BTF) was dispatched, the examination bunch Skew tweeted that CME Group's bitcoin fates OI arrived at another record-breaking high.

During the principal seven-day stretch of November, bitcoin prospects' open interest across all the crypto subordinates stages is $24.32 billion as per coinglass.com insights. The main ten subsidiaries stages offering bitcoin fates order $23.68 at least billion than 97% of the OI. The digital currency exchanging stage Binance is the innovator as far as bitcoin fates with $73 billion in worldwide volume among 54 unique crypto markets.

CME Group's Bitcoin Futures Open Interest More Than 16% of Aggregate OI

As far as bitcoin prospects, Binance holds 5.81 billion in OI which represents 23.9% of all the BTC fates positions. In the interim, the world's biggest monetary subordinate trade, Chicago Mercantile Exchange (CME) Group, catches 16.84% or $4.1 billion in open interest.

Leaving out Binance and CME Group, the best ten crypto subsidiaries stages as far as bitcoin prospects OI incorporate trades like FTX ($3.84B), Bybit ($3.63B), Okex ($2.21B), Deribit ($1.49B), Bitfinex ($827.71M), Bitmex ($752.43M), Bitget ($557.5M), and Huobi ($485.59M).

Bitcoin ETF Markets Follow Spot Market Trends

As far as crypto subordinates, 627 crypto fates, and perpetual no matter how you look at it, FTX holds the second-biggest worldwide volume beneath Binance with $13.4 billion out of 24 hours. Moreover, similar to bitcoin's (BTC) spot market solidification period, the bitcoin fates ETFs from Proshares (NYSE: BITO) and Valkyrie have followed comparative ways.

While BITO traded at a high of $43.28 in October, shares are right now trading for $39.30. The trade exchanged asset BTF hit a high of $25.25 however is currently changing hands for $24.23.