Bitcoin Futures Demand Slows as Spot ETFs Gain Popularity
The demand for Bitcoin futures has decreased since the launch of spot Bitcoin ETFs earlier this year. CME Group Bitcoin futures open interest has dropped by 24% since the introduction of 10 spot Bitcoin ETFs three weeks ago. The decline in open interest is due to the availability of spot ETFs serving a similar purpose. However, CME Bitcoin futures remain crucial, highly liquid components of the crypto market and can serve as hedging tools for authorized participants involved in managing the creation and redemption of ETF units. The introduction of spot Bitcoin ETFs has reshaped the market landscape, with the well-established Grayscale fund transitioning to an ETF format and experiencing a shift in shares.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Analytics Company Announces Critical Level Required for Bitcoin Price to “Jump to $142,000 or $233,000”
ARK Invest CEO Cathie Wood Shares New Predictions for Bitcoin Price After Record Highs
Famous investor Cathie Wood talked about new records in Bitcoin prices in her live interview.
Famous Analyst Made a Crazy Prediction for Cardano (ADA) Price: Sets a Date
Cryptocurrency analyst Ali Martinez made an unbelievable prediction for the Cardano (ADA) price in his statement.
Unbelievable Cryptocurrency Scam in Ankara! One Person's 38 Million TL Vanished!
According to AA, a businessman in Ankara was defrauded of 38 million liras with spyware by fraudsters who introduced themselves as cryptocurrency exchange officials.