A report by K33 research analysts has provided insight into how much institutional investors’ appetite for Bitcoin has increased ahead of a potential approval of a Spot BTC ETF. The research firm emphasized a particular indicator to drive home their point and provided further insight into what the future holds if these ETFs get approved. The Derivatives Market: An Indicator Of Institutional Interest In Bitcoin In the report written by K33’s Senior Analyst Vetle Lunde and Head of Research Anders Helseth, they noted that the derivatives market was important as it can be used to gauge institutional traders’ interest in Bitcoin. In line with this, they touched on how there has been a significant increase in open interest in the Chicago Mercantile Exchange (CME) derivatives market. Related Reading: Crypto Analyst Predicts XRP 1,500% Move Against Bitcoin, What Are The Terms? The K33 report specifically noted that the CME’s open interest has grown by over 3,4000 BTC over the past week. Meanwhile, CME’s open interest remains near all-time highs of 110,000 BTC. The increased activity on the CME has ..
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