This week saw a milestone in the world of Bitcoin futures. For the first time since two years ago, CME took the crown as the largest Bitcoin futures exchange, with a market share of 24.7%. This came amid a massive drop in the aggregate Bitcoin Open Interest of $2 billion, which impacted Binance traders more significantly. This news has been widely celebrated within the institutional and traditional finance world due to its implication of increased institutional interest in cryptocurrencies in general. CME's gain in market share came about gradually over the year and has been further intensified in the past couple of weeks as excitement surrounding the potential of a Bitcoin ETF has skyrocketed. David Lawant, head of research at trading platform FalconX, commented that this shift in market share speaks volumes about the level of institutional interest that has been driving the market lately.



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