CME Bitcoin futures open interest hits record high as institutional participation grows

Data shows that as of October 18, CME Bitcoin futures contracts had an open interest of more than $12.26 billion, a record high, up more than 36% in the past two weeks and more than 3.5% higher than the previous record high in April. Open interest has surged in recent weeks, up sharply from summer levels. This upward trend suggests that institutional participants are taking stronger positions to bet on continued volatility or price increases in Bitcoin. (The Block)