The Chicago Mercantile Exchange (CME) expects demand for upcoming options for cryptocurrency futures will be high among traders and miners from Asia.
According to Tim McCourt, head of alternative investment products at CME, the exchange hopes that option contracts will be as popular as bitcoin futures. He noted that the demand for bitcoin futures is above all on the part of Asian and European traders.
“Options allow you to vary strike price levels and can give you protection from either a decrease or a sharp increase in the share price of the underlying asset,” McCourt told the South China Morning Post.
Recall that CME launched Bitcoin futures in December 2017. The volume of daily futures contracts traded on the exchange reaches 7,000, which is equivalent to approximately 35,000 BTC. Earlier this month, it was reported that the exchange plans to launch cryptocurrency futures options in the first quarter of next year.