The data doesn't necessarily indicate that the traders are betting on price declines.
The interbank payment using the e-CNY afforded a zero cost, efficient and convenient payment option in real time, according to the report.
The contract will be traded in euros and physically delivered in bitcoin ETNs.
The gap over the spot market price widened to more than $8,000.
A combination of falling price and rising open interest is said to signal bearish conviction on the part of bitcoin futures traders.
In March, the investment bank relaunched its cryptocurrency trading desk after a three-year hiatus.
It's another sign of bitcoin's bearish trend.
Open interest in the CME's standard bitcoin futures contract has hit the lowest since mid-December.
The exchange made the move on the heels of a series of crackdown notices from Bejing in recent weeks.
Horizons ETFs Canada had to “put in place all the business continuity plans,” its CEO said.
With $662 million in loans unwound over 24 hours, it's the worst day for such liquidations since Feb. 22.
The price of bitcoin is now down more than 30% so far in May, on track for its worst month since November 2018.
Backwardation refers to a downward sloping futures curve where front-month contracts trade at a higher price than far-maturity contracts.
Ether is on track to extend its nine-day winning trend amid signs of institutions seeking exposure to the cryptocurrency.
Record futures liquidations show leverage was excessively skewed bullish.