Institutions Pile Into Ethereum As Futures Open Interest And ETF Inflows Leave Bitcoin Rivals In The Dust
Institutional adoption of Ethereum is accelerating at a pace that now eclipses Bitcoin, with ETH futures open interest topping $10 billion and spot ETH ETFs seeing inflows ten times higher than their BTC rivals. The total notional open interest (OI) in ETH futures recently crossed above $10 billion for the first time on record, according to the CME Group. Notional OI represents the total dollar value of active or open contracts at any given time. “We’re certainly seeing a resurgence and renewed enthusiasm in Ether futures — especially as it relates to institutional participation,” CME Group’s global head of cryptocurrency products, Giovanni Vicioso, told CoinDesk. Large Open Interest Holder Count Hits A New Record The CME offers standard-sized contracts of 50 ETH as well as micro-sized contracts of 0.1 ETH. Earlier this month, the number of large open interest holders, who hold at least 25 ETH contracts at a given time, reached a record of 101. T...