The Chicago Mercantile Exchange has now emerged as the largest Bitcoin Futures Market in world. It has surpassed OKEx in the process of doing so and continues to grow.
According to the new record, revealed by Arcane Research, CME registered 1.16 ratings to top the chart while OKEx fell at the second spot with 1.07.
The BTC figure displayed by CME is the closest thing that exists to a metric that gauges institutional involvement in Bitcoin.
Arcane believes that this is proof of long-awaited institutional entry into large scale, long-term Bitcoin investments. CME’s November 2020 futures contract BTCX20 expired on Nov. 27 with settlement due today, Nov. 30.
The expiration coincided with a significant selloff that saw Bitcoin dump as far as $16,600 before rallying back to close above $18,000 on Nov. 29.