Options on bitcoin futures are now available on CME’s Globex platform.
“Based on actively traded Bitcoin futures, our new contract offers a cost-efficient tool to hedge uncertain markets,” says CME in a release issued today.
The exchange group adds that these options will provide a new way for traders to diversify their trading strategies and manage bitcoin exposure.
The new bitcoin options will track to the CME CF Bitcoin Reference Rate and will be centrally cleared through CME Clearing.
CME is also currently offering a 50% discount on exchange fees through February 29 in order to try and encourage more trading in these products.
Data from CME shows that open interest for bitcoin futures increased 69% from year-end until last Friday, hitting a seven-month high.