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Big players build up positions in bitcoin futures on CBOE

Over the week ending June 12, the number of open contracts for bitcoin futures on the CBOE increased from 5,618 to 5,970, according to a report filed by the Commodity Futures Trading Commission (CFTC).

The net short position held by the bigger players went up from 2,079 to 2,104 contracts over the period, as both long and short positions increased, from 2,564 to 2,714 contracts and from 4,643 to 4,818 contracts. At the same time, the net short position held by the institutional investors fell by a third, from 125 to 87 contracts.

As for the smaller players, their net long position over the week increased from 1,926 to 1,945 contracts, with their long positions being up from 2,483 to 2,580 contracts while the short positions surged from 557 to 635 contracts.

By the bigger players we here mean the participants obliged to submit regular reports to the commission, including brokers, externally financed investment funds, and others.

The figures above do not take into account the positions that are part of spread trading strategies, where traders open both short and long positions simultaneously.

The CBOE began trading bitcoin futures on December 10, followed by the CME Group on December 18.

When assessing the difference in short and long positions of large and small players, it should be borne in mind that a short position in the bitcoin futures market does not necessarily mean that the trader’s forecast for the price of the underlying asset is negative.

The figures reflected in the text are based on the data from the report filed by the Commodity Futures Trading Commission (CFTC) published on June 12, 2018. The information in this text is provided to you for informational purposes only and should not be regarded as an offer or solicitation of an offer to buy or sell any investments or related services that may be referenced here. Please be aware that short selling strategy implies high risks.

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Looking to invest in crypto, but don’t want any legal trouble? EXANTE Director of Sales for Europe and the CIS Guntars Pupelis will talk about the legal aspects of cryptocurrency investing at the conference Funds and cryptocurrencies: the Development and the Technology, set to take place on June 14 in Cyprus.

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