The number of large holders in CME's bitcoin futures market has been surging over recent weeks, according to data compiled by The Block.
The number of holders who maintain a futures position of at least 25 bitcoin increased from a recent low of 94 during the week of May 30 to 121 in the week of June 27, according to data provided to the U.S. Commodities Futures Trading Commission. That's just shy of a peak of 122 reached at the end of March.
The increase in CME's market has been underpinned by a broader rally in crypto, which kicked off after asset manager BlackRock filed for a spot bitcoin exchange traded fund on June 15.
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