news.u.today
Chicago-based CME Group has made an announcement about launching Bitcoin options in Q1 2020. Regulators are yet to green-light the new investment product.
The leading derivatives marketplace claims that this decision is driven by a growing demand for investment instruments that would help manage Bitcoin exposure.
Based on increasing client demand and robust growth in our Bitcoin futures markets, we believe the launch of options will provide our clients with additional flexibility to trade and hedge their bitcoin price risk,” says Tim McCourt, CME Group global head of equity index and alternative investment products.
Both CME and Cboe rolled out cash-settled Bitcoin futures at the end of 2017, thus propelling the BTC price to the current ATH of $20,000.
After its next-door rival Cboe closed up shop, CME has been dominating the regulated Bitcoin futures market. As reported by U.Today, the total number of CME’s Bitcoin futures contracts has experienced a whopping 132 percent increase since 2018.