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Bitcoin (BTC) Options Open Interest on CME Spikes 900% in One Month

Fri, 05/15/2020 - 11:36
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Vladislav Sopov
The Chicago Mercantile Exchange sees enormous growth in Bitcoin (BTC) options interest positions
Bitcoin (BTC) Options Open Interest on CME Spikes 900% in One Month
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The Chicago Mercantile Exchange, which was among the pioneers of Bitcoin (BTC) derivatives contracts is experiencing a significant influx of new 'open interest' positions.

Open interest skyrockets

According to data provided by the Skew on-chain analytical team, the volume of Bitcoin (BTC) options open positions has gone through the roof this May.

The most recent open interest volume from May 14, 2020, was about $142M while the average volume of this indicator in 2020 so far, is $14M. The competitors of CME, e.g. Deribit, OKEx Futures and LedgerX are also printing records.  

Such an influx of liquidity may be seen as an over-bullish signal. It means that the community of crypto derivatives traders is mostly betting on price growth for the flagship cryptocurrency.

Among all of the services of this type, CME is witnessing the most impressive growth. For instance, OKEx has printed a 70.2% upsurge while Deribit saw an increase in this position by a factor of 1.3. However, Bakkt is 63% down compared to average numbers.

Are institutions catching on?

This splendid performance of CME Bitcoin (BTC) futures open interest has already been noticed by market analysts.

Mati Greenspan, a seasoned trader, investor and founder of the Quantum Economics newsletter, believes that this upsurge might be caused by the policy of institutional investors.

Institutions hodling paper. They get it, but they still don't get it

As previously reported by U.Today, this spring, with its bearish Bitcoin (BTC) markets, institutions have become increasingly attracted to the flagship crypto market.

Bitcoin Carnage “Much More Attractive” for Institutions, Big Inflow Expected

Bitcoin (BTC) evangelist Anthony Pompliano of Morgan Creek Digital predicted an enormous inflow of institutions when Black Thursday was raging.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (, Monoreto, Attic Lab etc.)