Futures market update: Basis premium on CME declining

We see a sharp decline in CME’s basis premium while it sits stable at the offshore exchanges.
Source: Skew.com

CME saw a sharp decline in its basis on Thursday, coinciding with the EU voting to impose KYC on private wallets.

The BITO ETF had a slow last week with slight outflows. This might have further contributed to reducing the basis on CME.

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