Bitwise report: Bitcoin futures volume is more significant than previously thought

posted 5 months ago
The Bitcoin futures market is far larger, relative to the spot market, than previously thought, says Bitwise Asset Management. In the report which claims 95% of all reported Bitcoin trading volume is faked, Bitwise says that nevertheless, the Bitcoin “futures market is significant” when viewed in light of the remaining, genuine 5% of spot trading that occurs at regulated exchanges.

The report was presented earlier this week to the SEC. This discrepancy means that the futures trading volume reported by major Chicago exchange CME Group has a far greater impact on the market than previously thought. The average daily futures volume on CME and Cboe combined totals near $85 million, which is not too far off from the average daily spot volume of $110 million on Binance, the exchange which performs the largest number of legitimate trades.
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