On January 13, derivatives exchange CME Group launched Bitcoin options trading. In one day of operation, CME surpassedtrading volumes on the Bakkt platform.
On the first day of trading, the CME exchange sold 55contracts worth about 275 bitcoins or $2.1 million. Note that the Bakkt platform, which began trading options on futures contracts on December 9, took a month to reach a trading volume of $1 million.
Statistics show that over the past year, interest in bitcoin futures has increased by 69%.
Options allow traders to usealternative strategies and save on margin using margin shifting. Bitcoin options settlement will have a contract unit of 5 bitcoins. Therefore, 1 European-type option contract corresponds to 5 BTC with a minimum price fluctuation of 5 contract units.
CME Bitcoin Options Explodedderivatives market, competing with the previously dominant companies BitMEX and Deribit. Unregulated platforms also create competition – Binance-backed exchange FTX also launched options trading on January 12.
