Open Positions on Chicago Mercantile Exchange Bitcoin Futures Hit Record High

[Magician]

The number of open contracts for the Chicago Mercantile Exchange’s (CME) bitcoin (BTC) futures is reportedly at an all-time high, cryptocurrency news outlet Coindesk reported on June 3.

According to visible data released by the United States Commodity Futures Trading Commission (CFTC) data, the number of open positions for the aforementioned future contract in the week from May 27 to June 3 is 5,190.

Coindesk claims that this is the highest number of open positions that CME’s bitcoin futures have ever reported and a 7% increase over the previous week.

Per the report, the recent increase in futures trading activity could be a sign of increased institutional interest in bitcoin. This is a continuation of the trend lately reported by the bitcoin futures, that also saw record volume on May 13.

As Cointelegraph reported at the time, CME’s bitcoin futures were also expected to hit new heights in May. CME  purportedly revealed that the average daily bitcoin futures trading volume hit a new high of 14,000 contracts in May 2019.

An unnamed official allegedly said at the beginning of last month that the CFTC is open to the idea of ether (ETH) futures trading, should the product meet the CFTC’s various requirements.

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