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CME Bitcoin Futures Data Shows Promising Rates of Adoption

CME recently released promising Q3 2020 data showing that Bitcoin and digital assets are finding life in the face of global economic uncertainty. According to a recent press release, CME Bitcoin futures and options are growing at increasing rates next to previous quarters even before the COVID-19 financial crisis.

Some important trends to highlight from CME’s press release:

  • Bitcoin Futures’ open interest averaged more than 10.5K contracts per day in Q3 2020, while open interest reached a record of 15,406 contracts on August 17th, 2020.
  • The Q3 record average for open interest of 10.5K contracts per day is up 127% since Q3 2019, stunning the average open interest from even before the Coronavirus pandemic struck global economies, showing that even a world-wide pandemic cannot stifle Bitcoin’s pace of adoption.
  • Number of large open interest holders (LOIH) grew 64% since Q3 2019 to an average of 79 in Q3 2020.
  • Q3 Average daily volume (ADV) of Bitcoin futures reached 8,960 contracts per day.
  • Bitcoin is strengthening its positioning as a global mechanism for financial freedom as 40% of trading volume derives from outside of the United States.

These strong trends are indicative that the pace of adoption of Bitcoin and related digital assets is stable, resilient, and forceful enough to endure even the harshest of economic conditions, opening the world’s eyes to the true legitimacy of digital assets as a hedge against inflation risk and a legitimate approach to value protection.

By Liam McDonald

Disclosures: Not investment advice. It should be assumed that Sarson Funds or its affiliated managers hold positions in all projects that are discussed. It is not possible to invest in any project directly through Sarson Funds, Inc. or its affiliated managers. Any investment product offered by managers affiliated with Sarson Funds should be assumed to be only available to Accredited Investors and subject to the individual terms and conditions of that offering including but not limited to those eligibility requirements associated with U.S. Securities Regulation D, section 506c. Talk with your financial advisor before making any investment decisions or have them contact Sarson Funds directly at info@sarsonfunds.com

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