The Chicago Mercantile Exchange (CME) data shows that the interest in Bitcoin futures trading is now at an all-time peak as Bitcoin enjoys a renewed interest in the markets.
The Twitter post by CME revealed this week that interest has peaked with an all-time high of 5,311 contracts totaling 26,555 BTC, or approximately USD 247 million at press time. Bitcoin is currently trading at USD 9,292.60.
An encouraging word from CME for the markets is that the long await interest in institutional investors appears to be gaining ground; an observation also shared by JPMorgan Chase (JPM) executive Nikolaos Panigirtzoglou who said that such investment was beginning to impact on Bitcoin markets.
Facebook’s announcement of its own cryptocurrency development has the potential to boost market interest and has had major news coverage this week. Many analysts are reporting that Libra Coin coverage is pushing Bitcoin’s current bull run, although legislators in Washington have expressed that they are ready to step in and regulate the social media giant prior to any product launch.
From next week, Chicago Mercantile Exchange (CME) will be the only US regulated platform issuing Bitcoin futures but London broker TP ICAP has said that it will be trading cash-settled contracts shopped on that platform with the Bitcoin derivatives market also gaining interest globally.
Bitcoin futures are standardized contracts that bind a party to buy or sell Bitcoin at a predetermined date.
BitcoinNews is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.
Follow BitcoinNews on Twitter: @bitcoinnewscom
Telegram Alerts from BitcoinNews: https://t.me/bconews
Image Courtesy: Pixabay