CME Vs. Binance: The Battle For Bitcoin Futures Supremacy
Portfolio Pulse from Murtuza Merchant
The Chicago Mercantile Exchange (CME) has overtaken Binance in the Bitcoin futures market, leading with an open interest of $4.07 billion. This shift reflects growing institutional interest in Bitcoin trading and coincides with significant market volatility and Bitcoin's price surge. The change in leadership is seen as a result of a $2 billion reduction in aggregate Bitcoin open interest, affecting Binance traders more than CME's. Industry leaders will discuss these developments at the upcoming Benzinga's Future of Digital Assets conference.
November 10, 2023 | 6:37 pm
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CME has surpassed Binance in Bitcoin futures open interest, indicating a growing preference among institutional investors for regulated entities in the crypto futures market.
CME's rise to the top of the Bitcoin futures market suggests increased trust and participation from institutional investors, which could lead to higher trading volumes and potentially increased revenues from trading fees. The news of CME's market share gain is likely to be viewed positively by investors.
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