Institutions Drive Bitcoin’s $35,000 Surge: CME and Hong Kong CSOP Futures ETFs

By Leo Nomist Oct 25, 202368Views

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Bitcoin’s recent surge to $35,000 has been primarily driven by institutional investors, according to data from the CME and Hong Kong’s CSOP Bitcoin Futures ETF. Open interest in the CME’s Bitcoin product has reached a milestone of 100,000 BTC, indicating growing interest from institutional investors. The CME has become a preferred venue for these investors, with its open interest data showing a significant rise. This coincided with renewed optimism about the approval of a spot bitcoin exchange-traded fund (ETF), leading institutional investors to secure their positions in anticipation of further growth. The Hong Kong CSOP Bitcoin Futures ETF has also experienced remarkable growth, with a single trading session achieving a record trading volume supported by capital inflows. Overall, the data reveals that institutional interest is the driving force behind the recent surge in bitcoin’s price.

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Leo Nomist

Leo Nomist emerges as a maestro harmonizing the roles of crypto analyst, tenacious researcher, and editorial virtuoso, creating an unparalleled symphony of insight. Amidst the intricate world of digital currencies, Leo's perspectives resonate like finely tuned chords, capturing the attention of curious minds from diverse horizons. His talent for deciphering complex threads of crypto intricacies blends seamlessly with his editorial finesse, translating intricacy into a captivating composition of understanding. Guiding both intrepid adventurers and inquisitive novices, Leo's insights serve as a compass for well-informed decision-making amidst the ever-shifting tides of cryptocurrencies. With the artistry of a linguistic virtuoso, they craft narratives that enrich the evolving tapestry of the crypto landscape.