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According to CME Group, world's largest futures trading exchange, open interest for bitcoin futures grew by at least 100 percent for eight consecutive months ending in February 2021. These contracts grew at a 1405 percent annual rate, from $ 156 billion by the end of February 2020 to $ 2.34 billion the following year. This increase seems to be more than three times a reckless 425 percent rise with in bitcoin price over the last year, and it is further proof of institutional investors' unparalleled appetite for access to this asset class.

Furthermore, given that Bitcoin recently broke a new record, surpassing $ 61,000, and also is currently valued at $ 55,341, institutional interest in cryptocurrencies & derivatives like CME futures is expected to stay strong, if not increase, breakdown into shorter and longer parts offers more detail.

However, in order to fully comprehend the consequences of this growing adoption and what we might expect as prices continue to increase, it is necessary to look further than the headline figures and consider what is going on underneath the surface. Fortunately, the data given to US regulator by the futures market participants categorizes market participants, shedding more light on the processes underlying this increasing institutional interest. These four types include banks, the asset managers, lent funds, and "other" companies that must report.

Interestingly, the leveraged funds, which include hedge funds and even a range of smaller commodity trading advisory firms (CTAs), currently hold the largest shares of open interest in Bitcoin futures (BTC) and also have net short at ratio of 3: 1, implying that they mainly bet against the asset.

What lies ahead

As if on queue, in a March 5 podcast, Matthew McDermott, head of the digital assets at Goldman Sachs GS, stated that whenever the bank reopens the latter's crypto trading desk, it would comprise CME Bitcoin futures as a direct result of customer demand as well as feedback. Only if price of bitcoin continues to increase, then growth can be expected.

Institutions do bet big on bitcoin onlinemoney.work