Bitcoin CME Options at Record High: “What Does Wall Street Know?”
- Open interest in Bitcoin derivatives has reached a new record high on the CME (Chicago Mercantile Exchange). Financial analyst Jeff Park asked on X: “What does Wall Street know?” Park is currently a partner and Chief Investment Officer at ProCap BTC and previously served as Head of Alpha Strategies at Bitwise Asset Management.
- According to crypto analyst James Van Straten, the record high is due to increasing numbers of investors using derivative strategies such as covered calls, which leads to more orderly price formation. BlackRock's new covered call ETF is expected to bring additional options volume to the CME in the future.
- Overall, this will create a more mature market structure with greater liquidity and more efficient price discovery. The expert therefore predicts: “This will give Bitcoin a market capitalization of over $10 trillion.” This would correspond to a Bitcoin price of over $500,000.
- However, the uptrends are now less explosive. It should also be noted that CME options represent only a portion of the Bitcoin derivatives market. Financial products on BlackRock's Spot Bitcoin ETF IBIT and Deribit also play a significant role in the sector. Therefore, it would be reckless to infer future price developments from this single metric.
- CME is the largest regulated futures exchange in the United States and thus a central part of the US financial infrastructure. Wall Street players such as banks, brokers, hedge funds, and ETF providers trade Bitcoin options/futures there.
- Meanwhile, in a new study, Deutsche Bank predicted that central banks will hold Bitcoin by 2030.
- If you want to buy Bitcoin, you can do so at Bitpanda, among others.
Recommended video: Top 3 underrated altcoins in 2025 – get in before the hype?
Sources
- Jeff Park | X
- James Van Straten | X
- BTC CME Open Interest | Velo
