CME Bitcoin futures open interest hits the lowest level in 14 months

MarsBitNews · 2026-04-11T13:16:08+00:00

Chicago Mercantile Exchange Bitcoin futures open interest drops to $8.41 billion, hitting a 14-month low, mainly due to basis trading closing out and annualized yields declining, leading institutional profit-taking. Daily trading volume also shrank below $3 billion, indicating institutional demand shifting toward spot markets.

MarsBitNews

2026-04-11 13:16:08

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Mars Finance reports that on April 11, the open interest (OI) for Bitcoin futures on the Chicago Mercantile Exchange (CME) dropped to $8.41 billion, hitting the lowest level in 14 months. Glassnode analysts pointed out that this trend is mainly driven by the unwinding of basis trading, which previously involved establishing long positions through spot ETFs and hedging short futures to profit from the spread. However, recent annualized returns have fallen from 15%-20% to around 5%, prompting institutional profit-taking. Additionally, the daily trading volume of CME Bitcoin futures has shrunk below $3 billion. Analysts believe that as institutional demand shifts toward directly holding spot assets, leverage levels in the futures market are significantly decreasing. (The Block)

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