Who's Trading on CME? Funds Hold Over 80% of CME Bitcoin Short Positions

A month ago, a Twitter user named "Documenting Bitcoin" with nearly 190,000 Twitter followers posted on Twitter claiming that hedge fund FRED Capital held a $7 trillion Bitcoin short position. While Documenting Bitcoin's data was not accurate—the $7 trillion actually represents FRED Capital's total assets under management—it reminds us to pay attention to a phenomenon: institutional Bitcoin short positions.