As a result of the ongoing uptrend, many prominent institutions from the realm of traditional finance have sought to join the crypto bandwagon so as to not miss out on the ongoing action. For starters, a jump in open interest and trading volume for Bitcoin futures has been witnessed across the board over the course of the last couple of months. While that may have been expected, what may come as a surprise is that the Chicago Mercantile Exchange, a global derivatives exchange, recently became the world’s largest Bitcoin futures trading platform.
In this regard, data released by crypto analytics platform Bybt indicates that CME accounts for $2.4 billion of the $13 billion overall open interest in Bitcoin futures, closely followed by crypto exchange OKEx’s total of $2.17 billion and ahead of other prominent players such as Binance, Huobi and Bybit.
It should come as no secret that Bitcoin’s (BTC) meteoric ascent since December 2020 has increasingly been grabbing