This summary text is fully AI-generated and may therefore contain errors or be incomplete.
The landscape of Bitcoin Futures trading at the Chicago Mercantile Exchange (CME) has revealed some interesting patterns. Large Open Interest Holders (LOIH) of CME Bitcoin Futures, who hold at least 25 contracts open, reached a count of 131 between November 28 and December 5, which is close to a record high. This spike in LOIH aligns with previous discussions about the premium in CME Bitcoin futures. A closer look at LOIH preference shows a significant dichotomy. Asset Managers have a net position long on Bitcoin futures, totaling approximately $2 billion. On the other hand, Hedge Funds have a net short position, also amounting to roughly $2 billion. It’s important to note that this analysis only considers positions in CME Bitcoin futures and does not account for any broader net exposure funds may have outside of CFTC-regulated futures products.