Bitcoin prices fell 12.8% between August 16 and August 17, causing total futures open interest to decrease by $2.4 billion. Notably, CME Group was the only exchange whose open interest was unaffected. CoinGlass data shows that CME Group surpassed Bybit to become the second largest Bitcoin futures trading platform on August 17, with open interest in Bitcoin reaching $2.24 billion.
It’s worth noting that CME Group exclusively offers monthly contracts, unlike perpetual contracts or inverse swaps, which are the crypto exchange’s most traded products. Additionally, CME contracts are always settled in cash, while crypto exchanges offer contracts based on stablecoins and BTC. These differences lead to differences in open interest between CME and cryptocurrency exchanges.
