The CME's regulated ether (ETH) futures market is heating up as the ongoing rotation out of bitcoin (BTC) accelerates.

The total notional open interest (OI) in ETH futures recently surpassed $10 billion for the first time on record, according to data shared by the exchange with CoinDesk. Early this month, the number of large open interest holders hit a record 101.

Notional OI represents the dollar value of the number of active or open contracts at a given time. The CME offers standard contracts sized at 50ETH and micro contracts sized at 0.1 ETH. The large holders are those that hold at least 25 ether contracts open at a given time.

The new high in open interest accompanies other record-breaking metrics, including the number of open micro ether contracts, which has exceeded 500,000, and

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