Demand for Bitcoin futures has eased following the US debut of exchange-traded funds that directly hold the largest digital asset, an initial indication of how the products can impact crypto trading trends.
Outstanding contracts — or open interest — for CME Group Bitcoin futures dropped some 24% to 20,679 by Jan. 30 after the 10 spot ETFs began trading three weeks ago, data compiled by Bloomberg show. Open interest had been at a record in the wake of Bitcoin’s 157% surge last year in anticipation of the ETFs.
