Open Positions On Chicago Mercantile Exchange Bitcoin Futures Hit Record High
The Chicago Mercantile Exchange (CME) reportedly observes an all-time high number of open contracts for its bitcoin (BTC) futures, as reported cryptocurrency news outlet Coindesk on June 3.
The United States Commodity Futures Trading Commission (CFTC) released data that suggests the number of open positions for the aforementioned future contract in the week from May 27 to June 3 is 5,190. As per Coindesk, this is the highest number of open positions that CME’s bitcoin futures have ever reported.
Notably, the numbers represent a 7% increase over the previous week. The report further notes that the recent increase in futures trading activity could be attributed to the increased institutional interest in bitcoin. Seemingly in continuation with the latest uptick in bitcoin futures, that also saw record volume on May 13.
In March this year, Dan Berkowitz, the commissioner of the Commodities Futures Trading Commission [CFTC] elaborated over different issues that are impacting and will continue to impact the entry of institutional investors into the cryptocurrency market. As per him, the CFTC has an active enforcement division to prioritize investor protection, wherein around 170 people are responsible for catching the “bad guys” in the space.
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