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CME improves its position among exchanges


The Chicago Mercantile Exchange (CME) has moved from fourth to second place in the ranking of the largest platforms for open interest in Bitcoin (BTC) futures.

According to Skew analytics, at the time of writing, the figure for CME is $3.05 billion, for FTX – $3.04 billion, for Binance, which is in the first place – $4.16 billion.

Thus, in terms of trading activity over the past day, CME ranks sixth in the rating with $1.63 billion. Moreover, the leader of Binance has this figure 13.29 times higher – $21.67 billion.

Investors build confidence in Bitcoin ETF approval

In addition, CME’s position is being improved by the growing confidence among institutional investors in the U.S. Securities and Exchange Commission (SEC) approval of Bitcoin ETFs. The premium of futures to spot price in terms of annual monthly contracts exceeded the same indicator of unregulated platforms.

Recall that Bloomberg experts predicted that the Bitcoin ETF would be approved by the Commission by the end of October. According to Bloomberg’s Eric Balchunas, while the SEC “kicks the can” on regular Bitcoin ETFs.

This month, a Bitcoin exchange-traded fund (ETF) has a 75% probability of acquiring authorization. Balchunas, a senior ETF analyst from Bloomberg, said this weekend that US Bitcoin futures ETFs were “likely on pace” for regulatory approval.

The regulator would consider applications

Earlier in September, SEC head Gary Gensler confirmed that the regulator would consider applications to launch Bitcoin ETFs. If they were based on CME futures and comply with the Investment Companies Act of 1940.

“I am looking forward to the employees considering such applications”. He shared with the audience of the conference.

The official announced the nomination of such criteria in August. He added, that SEC is looking forward to comments on “crypto custody agreements by brokerage houses and investment advisers”. Also, looking for ways to ensure “maximum protection”.

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