Bitcoin ETFs and Open Interest From BTC Futures, Options Follow Crypto Economy's Spot Market Decline – Market Updates Bitcoin News
— Updates, Bitcoin, Funds, Crypto, Etfs, Open, Interest, Futures, Follow, Market — 1 min read
Bitcoin futures open interest has dropped 60% down to $10.69 billion in the last eight months. Bitcoin futures and exchange-traded funds have followed bitcoin's spot market losses. Last year, when U.S.-based bitcoin ETFs were approved, the funds traded for much higher prices and have followed BTC’s spot market downturn. While bitcoin futures volume was down this past April, metrics indicate BTC futures volume spiked in May and even higher in June hitting $1.32 trillion. Bitcoin Exchange Traded Funds have shed between 70% and more than 73% in value since last year's price highs. The Proshares bitcoin ETF BITO has seen comparable losses, as the NYSE-listed BITO dropped 73.87%. Source