CME Bitcoin futures are an extremely convenient way for professional traders and institutional investors to access BTC.
Large investors such as Paul Tudor Jones, have recognized that use futures to have long-term exposure to Bitcoin .
A new study shows that more and more large investors are entering the crypto market. This is a trend that is intensified by the decline of BTC to $ 3,800.
According to a report by Arcane Research, CME’s market share is growing rapidly.
This share has risen significantly since the decline in March, with open interest (OI) previously only between 4% and 8% of the crypto platform’s total open interest.
“CME is currently responsible for 15% (about $ 499 million) of the total open interest. CME’s OI was between 4-8% before the March crash, but the crash marked a clear change in the trend, with CME only expanding its market share since then. ”
It seems that most users of the platform are opening long-term positions, as evidenced by the divergence of open interest and trading volume of the platform, according to data from Skew.
Arcane Research concludes that this growth indicates that professional traders have taken advantage of the collapse to accumulate at a good price.
“This growth may indicate that professional money managers have accumulated Bitcoin since the crash, seeking to invest in a demonstrably scarce asset.”