Open interest in Bitcoin options on the Chicago Mercantile Exchange has soared in recent days, reaching $142 million as of May 15.
According to data from the market research company Skew, this represents a gain of more than 1000% from only $12 million in open interest at the end of April.
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Bitcoin’s halving sees great interest in options trading
WEC saw an initial increase in option volume on May 5 and 6, with both days pushing towards USD 10 million. However, this fell to a more usual $1 million on Friday May 8, the last trading day before Bitcoin’s halving.
Option volume on halving day, May 11, increased again to $17 million, and each of the three days since then has seen volume between $30 million and $40 million.
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This brought open interest to USD 142 million at yesterday’s close, more than 10 times the amount recorded at the end of April.
Institutional investment continues to rise
As reported by Cointelegraph, institutional investment in Bitcoin Capital – Bitcoin Evolution – Crypto Trader – Ethereum Code – Bitcoin Rush has continued to rise previously and after Monday’s Bitcoin halving.
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In particular, companies like Grayscale and Fidelity Digital have reported increased interest, and hedge fund manager Paul Tudor Jones recently stated that nearly 2% of his assets are in Bitcoin.
Open interest in CME’s Bitcoin futures also reached an all-time high last week.