August and data from the Chicago Mercantile Exchange are proof that financial institutions are re-entering the Bitcoin Futures markets and resuming trading activity.
The best indicator is Open Interest on CME Bitcoin Futures, which rebooted after the May crash and is heading for $2 billion.
Analysts at the Norwegian company Arcane Research, which prepared this analysis, also published interesting findings regarding the fact that hedge funds increased short exposures in particular.
According to them, one of the main reasons could be Grayscale, which offers a discount on its investment product Bitcoin Trust (GBTC). However, most funds can expect the GBTC discount to disappear soon, so they are likely to try to secure this position with futures.
The last major companies to invest in GBTC include companies such as Morgan Stanley, which owns more than 6.5 million shares, but also the Bill Millers fund with 1.5 million GBTC shares.
As for other categories of traders, they prefer long positions in the Bitcoin Futures market, where asset managers in particular play an important role.