CME Launches Options for Bitcoin Futures

CME Group, the owner of the Chicago Mercantile Exchange, has just launched options for his futures contracts sure Bitcoin.

Announced this fall, Bitcoin options of CME Group are now open to negotiation. On its website, the American stock operator explained that it launched this product in response to the growing interest of investors for new tools allowing to expose itself to the fluctuations of the first cryptocurrency on the market.

of the derivatives on Bitcoin have been offered on crypto exchanges for several years, but CME was one of the first players to offer regulated products with its Bitcoin futures cash settled launched at the end of 2017.

"Although the growth of any new market takes time, we are pleased with the response from customers so far," said Tim McCourt, director of index products at CME.

according to Mike McGlone, analyst at Bloomberg Intelligence, the launch of the new CME options is "an important step to increase exposure to Bitcoin".

"Options are only launched and traded on a liquid underlying and the trend of future BTCs on the CME increases volume and interest," he added.

At the same time, FTX, a crypto-exchange supported by Binance, also launched option contracts on Bitcoin.

With this new offer, CME and FTX are following in the footsteps of Bakkt. The crypto-subsidiary ofIntercontinental Exchange (ICE) offers options on his futures since last month.

A option contract gives its holder the right (and not the obligation) to buy or sell an underlying asset at a price and a date determined in advance.

Over the past 24 hours, the bitcoin price recorded an increase of over 4.5%, flirting with the 8,500 dollars.