Bitcoin prices surged after the recent presidential election, yielding approximately $1.4 billion in paper profits for major banks involved in futures trading. According to Forbes, banks amassed over 10,564 Bitcoin futures contracts, translating to an ownership of 52,820 BTC, prior to the election. With Bitcoin’s value jumping by 22% since November 6, these contracts placed banks in a favorable position at the Chicago Mercantile Exchange (CME), where long positions totaled $3 billion at an average price of $65,800. The estimated gains from the recently bullish Bitcoin market elevate banks' open interest from $373 million to around $5.3 billion in just a month. Institutions such as JPMorgan, Goldman Sachs, and SG Americas Securities are prominently engaged in these crypto derivative markets. The rise of Bitcoin correlates with expectations of a more cooperative regulatory environment under the new administration, as reflected by the growth in the cryptocurrency's overall market capitalization, which reached $3.17 trillion as of November 13, up 119% from the previous year.

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