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January 15, 2020

CME Launches Bitcoin Options

CME launched options on Bitcoin futures on Monday this week, with first day volume of 55 contracts (notional US$2.3 million).

This launch follows Bakkt going live with Bitcoin options in December last year. Bakkt is a subsidiary of Intercontinental Exchange (ICE).

Although initial volumes are understandably low, Bitcoin options are seen as the next step in the evolution of the crypto market, as interest from institutional traders increases.

CME launched Bitcoin futures in December 2017.

Tim McCourt, Global Head of Equity Index and Alternative Investment Products at CME Group commented in a LinkedIn post, “We know from experience that successful options products require a robust, liquid underlying futures market…. we’re pleased our CME Bitcoin futures have rapidly evolved over the last two years to become one of the most liquid, listed Bitcoin derivatives products in the world, averaging nearly 6,400 contracts (equivalent to 31,850 bitcoin) traded each day in 2019.”


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