Futures will be the best crypto game in town even after a Bitcoin spot ETF
spot Bitcoin ETF will bring fresh money to the market, but it will not change a fundamental reality: Bitcoin liquidity is declining.
Futures will be the best crypto game in town even after a Bitcoin spot ETFOPINION
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The Chicago Mercantile Exchange (CME) has long been the home of crypto for traditional finance investors, and this is unlikely to change — even with the approval of a Bitcoin spot ETF.
Activity on the CME has expanded significantly over the past 12 months. The CME now sees more Bitcoin
futures trading than the world’s biggest crypto exchange, Binance. Open BTC interest on the CME now makes up 24.7% of the entire market, making it the top Bitcoin futures trading venue in the world
While some of this activity is almost certainly linked to anticipation of approval for a spot ETF, the launch of one or more will not lead to a reduction of activity in the futures market. In fact, futures trading is likely to expand rather than contract when the SEC finally gives BlackRock et. al. the green light.