Open Positions on Chicago Mercantile Exchange Bitcoin Futures Hit Record High
The number of open contracts for CME bitcoin futures is reportedly at an all-time high.
According to visible data released by the United States Commodity Futures Trading Commission (CFTC) data, the number of open positions for the aforementioned future contract in the week from May 27 to June 3 is 5,190.
Coindesk claims that this is the highest number of open positions that CME’s bitcoin futures have ever reported and a 7% increase over the previous week.
Per the report, the recent increase in futures trading activity could be a sign of increased institutional interest in bitcoin. This is a continuation of the trend lately reported by the bitcoin futures, that also saw record volume on May 13.
As Cointelegraph reported at the time, CME’s bitcoin futures were also expected to hit new heights in May. CME purportedly revealed that the average daily bitcoin futures trading volume hit a new high of 14,000 contracts in May 2019.