Institutional interest in Bitcoin futures has steadily climbed. Open interest, a measure of client demand, hit an all-time high of 20,380 contracts on October 25, equivalent to 101,900 bitcoin, representing $3.5 billion in notional value. Similarly, the number of large open interest holders (LOIH) of CME Group’s Bitcoin futures grew to a record 122 on October 24 (LOIH for Cryptocurrency futures is defined by the CFTC as an entity that holds at least 25 contracts).
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