The regulated Chicago Mercantile Exchange (CME) is making significant progress in the Bitcoin futures market, positioning itself as one of the largest exchanges in this sector. It is reminiscent of the early stages of the 2020-2021 bull run. According to data from Coinglass, CME has climbed from the fourth position to become the second-largest Bitcoin futures exchange, with a notional open interest (OI) of $3.54 billion.
Notional open interest refers to the U.S. dollar value locked in active or open contracts. Despite CME’s impressive rise, Binance, a crypto exchange, still holds the top spot with an open interest of $3.83 billion, which is 8% higher than CME’s.
