This Is How Much Bitcoin Institutions Are Trading On The CME

While Binance remains the largest venue in the world for Bitcoin futures trading, another more regulated market is now following closely behind.

Binance, the single larger competitor to the CME, bears a similar 112.63K BTC in futures OI, while Bybit hosts the third largest market with 74.31K BTC in futures OI. Futures trading is often done with perpetual futures contracts, which don’t settle until a trader voluntarily closes the position, or is liquidated as the trader’s balance goes negative due to regular payouts on an incorrect position.

On October 25, Reflexivity Research co-founder Will Clemente said “Tradfi is back trading Bitcoin,” in response to the uptick. Days later, Bloomberg ETF analyst Eric Balcunas noted that BITO – the largest Bitcoin futures ETF in the United States – absorbed $1.7 billion last week, while the

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