Institutional Positioning in CME Bitcoin Futures Diverges as Leveraged Funds Expand Net Shorts

Institutional investors showed divergent positioning in CME Bitcoin futures for the week ended September 22, as spot Bitcoin traded around $84,650. Leveraged funds expanded their net short exposure by 1,599 contracts to 7,953 contracts, shedding 800 longs and adding 799 shorts, which represents a shift of 7,995 Bitcoin-equivalent exposure. Conversely, asset managers increased net long positions by 411 contracts to 3,171 contracts by adding 434 longs against 23 new shorts, holding 4,962 longs against 1,791 shorts. Total open interest rose by 1,542 contracts from 20,773 to 22,315 contracts.