Bitcoin options go live at CME and they do perform better than Bakkt

Trade in bitcoin (BTC) option contracts is now live on the Chicago Mercantile Exchange (CME). 15.Jan.20 11:04 AM By Shawn Highstraw Photo toinnov.com    958

Trade in bitcoin (BTC) option contracts is now live on the Chicago Mercantile Exchange (CME). CME has since received the necessary approval from the regulator and opened trading in BTC options on January 13. According to data from Skewmarkets, CME's bitcoin options outperform those of rival Bakkt of the Intercontinental Exchange (ICE), which launched its BTC options on the trading platform last month. Looks like 55 contracts went through on CME's BTC Options first day of trading, approx. $2.3mln notional. 100% were Calls. A preliminary initial estimate shows that on the first day 55 option contracts were traded on CME, worth 275 bitcoins, or $ 2.3 million. In comparison, since launching on December 9, Bakkt has traded around $ 1.2 million in option contracts. It must be borne in mind that it is still early and that such institutional products often need a moment to build up momentum. Skewmarkets also reports on January 14 that the open interest (IO) on bitcoin futures contracts in the market is gradually rising to $ 3 billion. CME is one of the first major platform in the United States to offer regulated bitcoin products since December 2017. Around that time, the bitcoin price fell to its all-time high (ATH) of $ 20,000 and crashed again shortly thereafter. JPMorgan Chase, the largest bank in the United States, recently reported an enormous interest in CME's bitcoin option contracts as there was a peak in the trading of BTC futures on CME following the launch of the options. The Dutch company Deribit, one of the largest platforms in the world for bitcoin (and ethereum) options and futures, announced last week that the platform is moving to Panama due to the upcoming strict supervision rules on cryptocurrency companies in the Netherlands.

---

Back to the list

Related Information: