CME Group to Launch Bitcoin Friday Options on February 24
CME Group plans to launch options on Bitcoin Friday futures on February 24, pending regulatory approval. This expansion enhances their cryptocurrency offerings.
- Options will be financially settled.
- Expiry dates available from Monday to Friday.
- Provides traders with enhanced risk management tools.
Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group, noted the advantages of smaller contract sizes and daily expiries for capital efficiency. The new options will complement existing products, including Bitcoin and Ether options and Micro Bitcoin and Ether futures.
Demand for sophisticated cryptocurrency derivatives is growing. The introduction of daily expiries enables investors to adjust their exposure rapidly in response to market changes.
Trading Momentum
- Over 775,000 Bitcoin Friday contracts have been exchanged since their launch on September 29.
- Average daily volume stands at 9,700 contracts.
- 44% of contracts executed outside US trading hours indicates strong international participation.
Jason Urban from Galaxy highlighted the strategic significance of these options, emphasizing their cost-efficient utility for managing risk amidst Bitcoin price fluctuations.