Open interest in Ethereum futures on CME approached $300M

by in Cryptocurrency News

Ethereum

The open interest (OI) indicator for Ethereum futures on the regulated CME exchange is growing rapidly and has already reached the $287 million mark.

Along with OI, the trading volume of these derivatives has increased significantly over the past few weeks.

Analysts noted that the growth of the above indicators significantly accelerated during the period when the price of Ethereum updated historical highs.

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"The rise in open interest and trading volume comes amid the approval of four Canadian Ethereum ETFs last week - from Purpose Investments, CI Global Asset Management, Evolve Funds, and 3iQ," added Arcane Research.

Settlement Ethereum futures on CME were launched in February this year.