Open interest in the CME Group’s cash-settled bitcoin futures has risen to a new all-time high of $724 million amid a bitcoin price rise that has seen the cryptocurrency hit $11,000.

Open interest in ether futures has also surged to a new all-time high above the $1 billion mark, amid rising interest in decentralized finance protocols and steady progress being made on the development of the cryptocurrency’s upcoming upgrade, Ethereum 2.0.

Cryptocurrency fund manager Grayscale Investments has seen its total assets under management increase by a total of $1 billion in value in roughly 11 days thanks to the price rises in the cryptocurrency space.

Sponsored: On July 30th, tune in to Cointelegraph’s YouTube channel to join the world’s largest crypto trading event: Cointelegraph Crypto Traders Live. 

Top stories in the Crypto Roundup today:

• CME Bitcoin Futures’ Open Interest Hits New All-time High of $724 Million
• Open Interest in Ether Futures Hits $1 Billion All-Time High
• Grayscale’s Assets Under Management Grew By $1 Billion in 11 Days
• Sponsored: Join the World's Largest Trading Event on YouTube

At the time of writing, bitcoin (BTC) is trading at $11,044.76 (2.85%) with a daily Top Tier volume of $5.13 bn. As for ether (ETH), it is trading at $322.60 (2.85%) with a daily Top Tier volume of $3.11 bn. The MVIS CryptoCompare Digital Assets 10 Index is currently tracking at 3,974.76 (1.65%).

CME Bitcoin Futures’ Open Interest Hits New All-time High of $724 Million

Open interest in the CME Group’s cash-settled bitcoin futures has risen to a new all-time high of $724 million amid a bitcoin price rise that has seen the cryptocurrency hit $11,000.

The surge in open interest – the value of outstanding derivatives contracts that have not yet been settled – suggests more money is flowing into the market, and that in the near-term traders are counting on bitcoin’s volatility going up.

A previous all-time high in open interest at CME’s cash-settled bitcoin futures was seen in May, where $532 million were in the balance. While open interest has been going up trading volumes have been relatively low, with the average daily trading volume on the contracts being around $276 million so far this month.

On June 27, when BTC’s price broke out of its two-month range between $9,000 and $10,000, volume hit $1.33 billion. Bakkt has also reported its largest single-day volumes for the physically-settled bitcoin futures contracts it offers at about the same time.

Open Interest in Ether Futures Hits $1 Billion All-Time High

Open interest in ether futures has also surged to a new all-time high above the $1 billion mark, amid rising interest in decentralized finance protocols and steady progress being made on the development of the cryptocurrency’s upcoming upgrade, Ethereum 2.0.

The aggregated open interest on ETH futures surpassed the $750 million mark earlier this year ahead of the crypto Black Thursday, which saw the price of BTC plummeted over 50% in a two-day period, but managed to once again get to that level in June.

Now, over $1 billion worth of ether futures contracts are yet to be settled. The record comes as top exchanges like OKEx, Huobi, and BitMex have over $200 million in open interest on their platforms, and as the price of ETH rose to a 13-month high above the $300 mark.

The cryptocurrency’s growth has also seen the number of active addresses on its network grow by over 170% so far this year, beating bitcoin’s year-to-date growth in active addresses of over 70%.

Grayscale’s Assets Under Management Grew By $1 Billion in 11 Days

Cryptocurrency fund manager Grayscale Investments has seen its total assets under management increase by a total of $1 billion in value in roughly 11 days thanks to the price rises in the cryptocurrency space after BTC broke out of its $9,000 to $10,000 range earlier this month.

Grayscale manages funds that give institutional investors exposure to top cryptoassets like BTC, ETH, BCH, ETH, ZEN, LTC, XLM, XRP, and ZEC. It manages these funds for a fee, while allowing investors – including institutions – to gain exposure to the crypto market without having to manage any private keys.

Over the past 11 days Grayscale saw the value of its assets under management in itS BTC trust increase by $782 million, and the value of its assets in the BCH trust more than double from $6 million to $12.8 million. Its ETH trust and ETC trust added $174 million and $6.7 million respectively.

Although the value of its assets under management went up, filings with the U.S. Securities and Exchange Commission show it has not bought any cryptocurrency since June 19, after adding 19,879 BTC to its portfolio.

Join the World's Largest Trading Event on YouTube

On July 30th, tune in to Cointelegraph’s YouTube channel to join the world’s largest crypto trading event: Cointelegraph Crypto Traders Live.

1 day. 9+ hours of crypto content. More than 30 star speakers including: Max Engelen, Mike Novogratz, Raoul Pal, John Bollinger, Ran Neuner, Jon Najarian, Tone Vays, Eric Crown, DataDash, Scott Melker, as well as top people from Robinhood, Revolut, prop trading desks and crypto exchanges.  

We’ll cover every topic a crypto trader faces and should know: from the basics of trading & technical analysis, FOMO and market sentiment, to trading mistakes and how to avoid them. We’ll cover leverage trading, derivatives, and cryptocurrency baskets, while learning how to build a crypto portfolio.

Head over to Cointelegraph’s YouTube channel on July 30th to join the event!

Press Release

State of the Crypto by Top Tier Exchange Volume

Build your project with CoinDesk Data

Terms | Privacy

13 Charles II St, SW1Y 4QU

London, UK

This email may include advertisements by third parties. None of the advertised or promoted products and services have been verified or approved by us and this email is not any endorsement by us of the third party or of their products or services.