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CME open interest hits record high $3.4 billion as bitcoin price soars
As the BTC price surges on optimism that a spot bitcoin exchange-traded fund (ETF) will soon be approved, open interest on the Chicago Mercantile Exchange (CME) has hit a new high. Early this morning, CME open interest hit 100,000 bitcoin, worth more than $3.4 billion. On Monday, the bitcoin price hit a 16-month high of nearly $35,000 following news that BlackRock's iShares Bitcoin Trust is now listed on the Depository Trust and Clearing Corporation's website and that the firm is preparing to seed its product this month. And while that surge in the bitcoin price indicates retail enthusiasm for such a product, the new ... (full story)