CME Group Becomes the World's Largest Bitcoin Futures Provider

​Tweeted on November 27, the research and analysis firm - Arcane Research explained that the Chicago Mercantile Exchange(CME Group) has surpassed Okex as the largest bitcoin futures provider. The regulated derivatives market at CME has doubled month after month as incoming interest has created more demand for CME's bitcoin futures.

More specifically, Arcane Research tweeted about the latest CME Group milestone after obtaining data from Skew.com. "According to data from Skew.com, CME is now the largest futures market for bitcoin. Institutional investors are here."

CME Group is the world's largest financial derivatives exchange that trades in various asset classes. The exchange first launched its bitcoin futures products back in December 2017, and since then the demand for crypto derivatives has skyrocketed.

Financial derivatives products for bitcoin have grown massively during the last few months.  

On October 24, 2020, news.Bitcoin.com reported on how CME Group became the second-largest derivatives market for bitcoin futures in terms of open interest. Two key events helped push CME's futures above the competitors; the crypto support announcement from Paypal, and the legal troubles surrounding the derivatives exchange Bitmex.

Last Friday(November 27), CME Group has surpassed Okex and is the largest bitcoin futures provider at the time of publication. The exchange has captured over $1.16 billion in open interest toward its bitcoin futures market product. This is just a hair above the exchange Okex, which commands $1.07 billion in bitcoin futures open interest.

Other bitcoin derivatives exchanges that are also seeing notable open interest spikes include Binance, Huobi, and Bybit. In fact, according to Arcane Research's recent tweet, Bybit and Bitmex share the same amount of open interest.