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The Chicago Mercantile Exchange (CME) has witnessed a significant rise in open interest for its Bitcoin and Ether futures, with both cryptocurrencies showing marked investor interest. Bitcoin futures saw a substantial 58% increase, pushing the open interest to $6.8 billion in February. This surge reflects growing confidence among institutional investors in the cryptocurrency as a viable investment vehicle, potentially indicating a bullish sentiment in the market.
Meanwhile, Ether futures outpaced this growth, with an 86% spike in open interest reaching approximately $1.1 billion. Although the absolute value is lower compared to Bitcoin, the percentage increase for Ether is noteworthy, suggesting a rising interest in Ethereum’s potential, especially considering the network’s recent upgrades and growing decentralized finance (DeFi) ecosystem. This trend underscores the diversifying landscape of cryptocurrency investment products on traditional exchanges.