CME Group: Asia-Pacific institutional investors have strong hedging demand and are turning to virtual currency investments

According to Odaily Planet Daily, CME Group Senior Managing Director Tim McCourt stated in a recent interview that open interest in virtual currency instruments at the exchange has reached nearly $40 billion. He noted strong investment demand from the Asia-Pacific region, and that lower US interest rates would trigger hedging efforts from non-US dollar-denominated funds. For example, many institutional investors in Singapore have begun shifting their investments into virtual currencies. (Ming Pao)