![Bitcoin futures open interest at CME reaches 20% of overall BTC futures OI](https://cryptoslate.com/wp-content/themes/cryptoslate-2020/imgresize/timthumb.php?src=https://cryptoslate.com/wp-content/uploads/2023/01/bitcoin-Insights-4.jpg&w=70&h=37&q=75)
Quick Take
- Cryptoslate reported on Jan. 24 that the CME exchange saw 84,000 Bitcoin, or $2 billion, allocated in futures contracts in the last 24 hours.
- A further 2,715 BTC were allocated into futures open interest (OI) in the past 24 hours, now totaling 86,950 BTC.
- The futures OI in CME accounts for 20% of the futures open interest in all exchanges, the highest since the November 2021 bull run.
- Total futures OI is 420,000 BTC, or about $9.5 billion.
Why is CME popular?
- CME is accessible for TradFi funds, as it’s regulated and uses a central counterparty clearing houses (CCPs) clearing model
- It’s easier for institutional speculators to trade BTC as it’s the same place they would trade commodity futures and, in general, relatively expensive for the average investor.
![Futures OI: (Source: Glassnode)](https://cryptoslate.com/wp-content/uploads/2023/01/OI.png)
![Futures Open Interest: (Source: Glassnode)](https://cryptoslate.com/wp-content/uploads/2023/01/86950.png)