Bitcoin Price Climbs Amid ETF Hopes and Futures Growth
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Bitcoin's price has been climbing recently, with some attributing this to anticipation of spot bitcoin ETF approvals and the upcoming bitcoin "halving" in 2024.
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CME Group offers regulated bitcoin and ether futures and options that allow investors to hedge or gain exposure to cryptocurrency price moves.
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Bitcoin futures bring advantages like USD settlement, no need to custody coins yourself, and ability to short.
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Institutional interest in CME's bitcoin futures is rising, with open interest and large open interest holders reaching new highs.
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Retail interest is also increasing, evidenced by a large spike in volume for the futures-based BITO ETF.