CME has officially surpassed Binance as the largest Bitcoin futures exchange in terms of open interest, while decentralized exchange Hyperliquid has reported an impressive milestone of $5 billion in daily trading volumes. These developments were highlighted in CoinGlass’s detailed H1 2025 derivatives report.
As of June 1, CME’s Bitcoin futures open interest reached 158,300 BTC, valued at approximately $16.5 billion, overtaking Binance’s 118,700 BTC, or $12.3 billion. This marks a significant moment in the history of crypto derivatives.
Source: CoinGlass
This achievement coincided with a rise in Bitcoin derivatives open interest, which increased from $60 billion to over $70 billion in the first half of 2025, fueled by substantial inflows from ETFs and growing institutional demand.
Source: CoinGlass
Nonetheless, the market structure appears to have consolidated around a few leading exchanges, including OKX, Bybit, Bitget, and Gate, which have all secured significant portions of the market through the Matthew effect.
Institutional Adoption Drives Regulated Exchange Growth
The growth of regulated exchanges signifies a pivotal change in the trading dynamics within cryptocurrency derivatives.
Hyperliquid Dominates Decentralized Derivatives Revolution
The post CME Beats Binance in BTC Futures While Hyperliquid Hits $5B in Volume: CoinGlass H1 Report appeared first on Finance Newso.
