Binance retakes leads over CME as top Bitcoin futures market 
Quick Take
Binance has overtaken CME as the leading exchange in terms of Bitcoin futures open interest once again.
This change in ranking represents the total amount of funds allocated in open futures contracts, which now stands at approximately 105,000 BTC on Binance and roughly 101,000 BTC on CME.
The data reveals a key trend: the rotation from futures such as BITO into cheaper spot Bitcoin ETF products, triggered by the approval of the ETF. This strategic shift has resulted in a pronounced 30% drop in futures open interest on CME.
Furthermore, Binance’s market dominance is now nearing 30%, while the aggregate open interest continues to display a declining trend, resting at just under 400,000 Bitcoin. This represents one of the lowest levels in the past year.
The overarching narrative drawn from these developments is that investors are pivoting towards exposure to cheaper products, notably spot products.
Analyst 
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
Latest Insights
In this insight
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
CME Group
CME Group is a global markets company empowering participants to efficiently manage risk and capture opportunities in every major asset class..
Featured Data Partner
