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Bitcoin Futures Demand Slows as Spot ETFs Gain Popularity

The demand for Bitcoin futures has decreased since the launch of spot Bitcoin ETFs earlier this year. CME Group Bitcoin futures open interest has dropped by 24% since the introduction of 10 spot Bitcoin ETFs three weeks ago. The decline in open interest is due to the availability of spot ETFs serving a similar purpose. However, CME Bitcoin futures remain crucial, highly liquid components of the crypto market and can serve as hedging tools for authorized participants involved in managing the creation and redemption of ETF units. The introduction of spot Bitcoin ETFs has reshaped the market landscape, with the well-established Grayscale fund transitioning to an ETF format and experiencing a shift in shares.

Bitcoin Bitcoin $95,171.55
-1.93%
Bitcoin ETF
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