• The Bitcoin has undergone unprecedented turmoil in recent months, falling to lows of $ 3800 before soaring to highs of $ 10500
• This volatility was not enough to prevent large market players from entering the digital asset
• Macroeconomic investor Paul Tudor Jones was one of the first traditional investors to publicly state his interest in BTC, but data shows he's not the only one on Wall Street to buy Bitcoin

Although it is a fast maturing market, Bitcoin is still very subject to immense volatility.

The turbulence observed throughout the past year   has highlighted this situation, as its recent price action may be enough to prevent certain investors from entering the market.

Despite this, the data seems to suggest that Wall Street has never been as interested in Bitcoin as it is today, as two key measures show that the amount of institutional involvement in the crypto market has exploded in recent months.

This comes close to Paul Tudor Jones making public comments on Bitcoin's bright outlook , and it is possible that it has sparked greater institutional interest.

DIVERGENCE BETWEEN OPEN INTEREST AND THE VOLUME OF BITCOIN CME

The CME has proven to be an excellent gateway for institutions to gain exposure to   Bitcoin   via futures and options, without having to manage the conservation of the actual BTC .

This platform has seen an increasing use lately, the traders leading it to note a record open interest on its futures and options products only a few weeks ago.

While researching data regarding the long-term use of CME, it is clear that traders are using it widely to gain long-term exposure to BTC .

As shown in the graph below offered by the Skew blockchain analysis platform, there is a discrepancy between open interest and trading volume for CME futures - although this has decreased over the course of of the past two weeks.

Data via Skew

As of mid-May, the open interest was $ 532 million. Trade volumes, however, hovered in the region of $ 300 million.

This divergence suggests that traders were more inclined to use futures contracts to take long-term positions, rather than actively trading.

GRAYSCALE ACCUMULATES A MASSIVE POSITION OF BTC: EMBLEMATIC OF INSTITUTIONAL DEMAND

In order to meet demand, Grayscale has accumulated massive amounts of Bitcoin in the past few weeks.

An investor pointed out in a recent tweet that the company's Bitcoin Trust had bought 18,910 BTC since halving it a few weeks ago.

It also notes that during the same period, only 12,337 BTCs were extracted.

“The Grayscale Bitcoin Trust has purchased 18,910 Bitcoins since the halving. Only 12,337 Bitcoins have been mined since the halving. "

He adds that this shows - regardless of what banks like Goldman Sachs say - that Bitcoin is heavily accumulated by Wall Street institutions.

“Wall Street wants Bitcoin , and they don't care what Goldman Sachs has to say.”