A futures based Bitcoin ETF is very bullish for CME. There is now an avenue for retail $ to flow into their market at scale & be active on a daily basis. ETF holders are the fee insensitive customers that make Bitcoin futures a win for MMs, retail AND the exchange.
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What are your thoughts on the threat that FTX's purchase of LedgerX poses to CME's crypto suite? If they are able to launch cross margining between spot and futures on one exchange, they could take a lot of the pie
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