Institutional interest soars as CME bitcoin futures open interest sets new all-time high

As of Oct. 18, open interest (OI) on Bitcoin futures traded on the Chicago Mercantile Exchange (CME) has reached a new all-time high of over $12.26 billion. This figure is up over 36% in the last two weeks and more than 3.5% higher than its previous all-time high, set in April.

The surge in OI in recent weeks represents a sharp increase from previous levels seen during the summer. It is the highest recorded figure since April 1, when CME OI was at $11.84 billion.

This upward trend in CME futures activity suggests institutional players are taking stronger positions in anticipation of continued volatility or price appreciation in bitcoin.

OI represents the total number of outstanding futures contracts that have yet to be settled. A record high in OI indicates that more participants are actively trading or holding positions in Bitcoin futures.

The fact that CME, one of the largest regulated derivatives exchanges, has seen record-breaking underscores the growing institutional adoption of BTC. Hedge funds, asset managers, and other professional investors often prefer CME's regulatory clarity and market structure.

This is an excerpt from  The Block's Data & Insights newsletter . Dig into the numbers making up the industry's most thought-provoking trends.