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Surge in Major Bitcoin Positions on CME: A Rising Trend

  • The surge in Bitcoin’s price has led to a significant increase in the number of open positions on the Chicago Mercantile Exchange (CME).
  • BlackRock’s update in its spot Bitcoin ETF application is believed to be a major factor in Bitcoin’s recent rally.
  • The number of investors holding futures positions of at least 25 Bitcoins rose from 94 on May 30 to 121, nearly reaching the peak of 122 seen at the end of March.

Bitcoin Rally Fuels Increase in Open Positions on CME

Following the recent surge in Bitcoin’s price, there has been a notable increase in the number of open positions on the Chicago Mercantile Exchange (CME). This surge in market activity is a clear indication of the growing investor interest in the cryptocurrency.

BlackRock’s Spot Bitcoin ETF Application Update

One of the primary drivers of Bitcoin’s recent rally is believed to be BlackRock’s update to its spot Bitcoin ETF application. BlackRock, the world’s largest asset management firm with over $10 trillion in assets under management, recently updated its ETF application. This update included the addition of a surveillance agreement clause and named Coinbase as the price tracking firm.

Investor Interest in Bitcoin Futures

The number of investors holding futures positions of at least 25 Bitcoins on the CME has also seen a significant increase. This number rose from 94 on May 30 to 121, nearly reaching the peak of 122 seen at the end of March. This high level of open positions typically indicates a high demand for the financial instrument in question.

ETF Applications and the SEC

The ETF applications will be approved by the SEC, which currently has multiple cases with Coinbase. Other companies that have applied for a spot Bitcoin ETF have indicated that they will be working with CBOE. CBOE also updated its ETF applications last week, adding a surveillance agreement clause and announcing a partnership with Coinbase.

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Marisol Navaro
Marisol Navarohttps://en.coinotag.com/
Marisol Navaro is a young 21-year-old writer who is passionate about following in Satoshi's footsteps in the cryptocurrency industry. With a drive to learn and understand the latest trends and developments, Marisol provides fresh insights and perspectives on the world of cryptocurrency.
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