A rare CME shift: Hedge funds abandon structural shorts to bet on a bitcoin rally

CryptoInfo Editorial Team · Published on August 10, 2026 at 09:09 · Updated on August 11, 2026 · 1 min read

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Key Takeaways

→Hedge funds have turned net long on bitcoin at the CME
→Weak futures yields have undermined the basis trade, leading to a shift in market sentiment

Disclaimer: This content is provided for informational purposes only and does not constitute financial or investment advice.

Hedge funds have shifted their stance on bitcoin, abandoning structural shorts to bet on a rally, according to reporting from CoinDesk. This change in market sentiment is attributed to weak futures yields undermining the once-popular basis trade.

The shift is notable as it marks a rare instance of leveraged funds turning net long on bitcoin at the Chicago Mercantile Exchange (CME). previously, hedge funds had maintained a structural short position, but the current market conditions have led to a change in their strategy.

Source: CoinDesk ↗

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