Bitcoin (BTC) Rally Puts Focus on Futures Market Quirk That Underscores Need for Spot ETFs

The cryptocurrency topped $31,000 late last month, reaching the highest in a year. With the rally, the spread between prices for the Chicago-Mercantile Exchange (CME)-listed July futures contract and the now-expired (the-then front-month) June futures contract exploded to nearly $500, the highest gap since the bull market days of late 2021, according to data from charting platform TradingView.