CME open interest crosses 200k BTC, with active market participants continuing to be the force moving exposure higher. Expect CME futures to continue to thrive with the launch of ETF options.
The larger bitcoin's role and the more intertwined it becomes with the traditional financial system, the more likely volatility will decline over time. We have seen this over the past few years, as realized volatility has decreased from over 100% to approximately 40%.
Glassnode data shows that the CME dominates the futures open interest market by 33%, a margin that is still growing. The percentage of futures contracts that are margined in crypto is at an all-time low of just 16%.
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