Open interest in CME's bitcoin futures is now at an all-time high of $400 million
Open interest in CME Group's bitcoin futures has touched an all-time high of $400 million, hinting that more money is flowing in the market and that traders are expecting a near-term rise in volatility.
The $400 million figure is higher than the previous all-time high open interest of over $338 million on February 14. Open interest is the value of outstanding derivative contracts that are yet to be settled.
CME launched cash-settled bitcoin futures in 2017 due to "increasing client interest." Earlier this year, the exchange also rolled out bitcoin options.