Hedge Funds Are Rolling Out Of Bitcoin Futures

Hedge Funds Are Rolling Out Of Bitcoin Futures

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CME Group headquarters in Chicago, Illinois, U.S., on Friday Feb. 5, 2021. CME Group Inc. is scheduled to release earnings figures on February 10. Photographer: Christopher Dilts/Bloomberg

© 2021 Bloomberg Finance LP

Following the recent drop in the price of bitcoin and other crypto assets, hedge funds at the Chicago Mercantile Exchange are rolling their short bets into other markets that they deem more lucrative in the short term.

Their absence has led to a dramatic drop in open interest in bitcoin futures at the exchange and highlights the critical role that this segment plays in bootstrapping liquidity for institutional derivatives markets. That said, this observation could also be seen as another signal that the crypto market is steadying and getting ready to resume its upward trajectory.

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I write about digital assets trends and tinker about the Forbes Digital Assets tools and functionality our viewers require. 

My past roles have been conducting capital

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I write about digital assets trends and tinker about the Forbes Digital Assets tools and functionality our viewers require. 

My past roles have been conducting capital markets research for institutional audiences. I now apply this analytical expertise to help individual investors decipher how digital assets are adapting to the business of financial services. 

I wrote my first digital assets report in 2016 dealing with the top 10 blockchain platforms with promising use cases in capital markets. Prior to my analyst days, I was head of sales for Interbank FX, a fast-growing brokerage firm that was ranked #46 in 2008 by INC magazine. I also worked for Credit Suisse and BankBoston in research roles and was a treasury analyst for a multi-billion non-profit organization.

Brigham Young University’s MBA program graduate; speak Spanish, French, and Portuguese; McGraw-Hill published author (“The Forex Trading Manual,” 2012).

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