CME Group expands its Bitcoin, Ethereum derivatives product suite

2023-4-18 19:29

CME Group is set to expand its Bitcoin and Ethereum product lineup from May 22 – subject to regulatory approval.

The world’s largest derivatives exchange said its new offerings would introduce shorter-term cryptocurrency options.

Currently, CME Group offers standard and micro BTC and ETH contracts. With the additional product offering, ten new weekly options will be available – representing contracts expiring Monday through Friday for both cryptocurrencies.

Similarly, four additional micro contracts for BTC and ETH will be offered for Tuesday and Thursday expiry.

Bitcoin and Ethereum activity on CME Group spikes

CME Group’s Global Head of Cryptocurrency Products, Giovanni Vicioso, said the new contracts give traders “greater precision and versatility in managing short-term bitcoin and ether price risk.”

The company said its Q1 2023 average Bitcoin and Ethereum notional daily volume exceeded $3 billion – denoting an uptick in demand for its cryptocurrency derivatives products.

Bitcoin futures and options average daily volume exceeded 11,500 contracts during the period. At the same time, open interest (OI) averaged 24,094 contracts – a new record.

The story was much the same with Ethereum products, having hit a record 311 options contracts traded on Feb. 22, with OI peaking at 1,800 contracts on March 24.

The post CME Group expands its Bitcoin, Ethereum derivatives product suite appeared first on CryptoSlate.

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CME Group’s global head of equity products, Tim McCourt, believes that Asian traders and miners will welcome their Bitcoin options product with open arms come Q1 2020. As per an interview with South China Morning Post, CME anticipates greater demand for options contracts given the immense benefits of using it as a hedging mechanism, October 10,Read MoreRead More.

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CME Is Expecting Bitcoin Options to Be As Popular as BTC Futures & A Hit with Asian Traders

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CME exec says group is expecting huge demand for its Bitcoin Options from Asia

The CME Group is all set to launch yet another Bitcoin derivatives product in the form of Bitcoin Options in the first quarter of 2020. Its Bitcoin Futures contracts turned out to be a great hit among institutional investors and the group is hoping that the soon-to-be-launched Bitcoin Option would be a great hit as […] The post CME exec says group is expecting huge demand for its Bitcoin Options from Asia appeared first on AMBCrypto.

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