Quick Take
The interest in Bitcoin is on an upward trajectory, a trend palpable in the recent data analysis. One aspect that has drawn media attention, including CryptoSlate, is the potential approval of a Bitcoin spot Exchange Traded Fund (ETF). This development could act as a springboard, propelling Bitcoin into the mainstream financial ecosystem by providing a regulated and simplified method of investment.
The Chicago Mercantile Exchange (CME), a favorite platform among institutions, has seen its open interest exceed 100,000 Bitcoin, which is approximately equivalent to $3.1 billion. Approximately 27% of the total open interest now resides with CME, marking the highest level ever recorded.
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