Bitcoin (BTC) Becoming More Attractive for Institutions: New Evidence From Analyst Charles Edwards

Tue, 06/09/2020 - 12:25
Vladislav Sopov
Institutional investment in Bitcoin (BTC) is a common topic of pro-Bitcoin (BTC) narratives. Analyst Charles Edward believes this process is reaching a crucial milestone
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Seasoned analyst Charles Edwards of Capriole Investments has compared the Bitcoin (BTC) futures trading statistics from BitMEX and Chicago Mercantile Exchanges. Institutions are coming, he concluded.

Chasing BitMEX

Mr. Edwards revealed that the statistics for open interest in Bitcoin (BTC) futures for both platforms. The inputs for charts were provided by the Skew analytical group that addresses the segment of cryptocurrency futures trading.

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According to the statistics, open interest in the XBTUSD pair on BitMEX is about $616.7M - this is 9% less than the average amount in Q1-Q2, 2020. During the bullish rally of February 2020, this number stayed above $1.1B for two weeks.

On Chicago Mercantile Exchange, open interest in Bitcoin (BTC) contracts is $468M, which is twice as much as the average level for the corresponding period. Particularly, Charles Edwards highlighted the rapid progress of CME.

The Bitcoin (BTC) OI level on CME surged almost 310% in 2020. Thus, it can surpass competitors in the nearest future.

Does Bitcoin (BTC) need institutional money?

Mr. Edwards outlines that BitMEX trading statistics should be applied to retail Bitcoin (BTC) futures trading. In this segment, the exchange led by Arthur Hayes established itself as an undisputed multi-year leader.

CME Bitcoin (BTC) futures are mostly exposed to institutional investors. This is why this race goes far beyond the competition between the two platforms.

Typically, investors and analysts are waiting for an institutional money influx into Bitcoin (BTC). It could be major evidence of its adoption as a solid financial instrument.

Despite this fact, some prominent Bitcoin (BTC) experts think differently. Legendary cypherpunk and Blockstream CEO Adam Back announced that the Bitcoin (BTC) price could reach six-digit levels even with no institutional money involved.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (, Monoreto, Attic Lab etc.)

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