Bitcoin Futures Trading Soars to Record Highs After U.S. ETF Launch
-
Bitcoin futures trading has soared after the launch of spot ETFs in the US this month, with CME Group seeing a new high average of 66,000 contracts daily.
-
Open interest in CME bitcoin futures rose to around $6 billion on the day the ETFs were approved.
-
Traders are using a "cash and carry" arbitrage strategy - selling futures contracts at a premium while holding the underlying crypto.
-
CME has become the largest bitcoin derivatives exchange, surpassing Binance.
-
While interest has increased after the ETF launch, bitcoin's price has remained volatile, whipsawing below $40k last week.