The Chicago Mercantile Exchange Group (CME Group) has just launched its Bitcoin futures and options on those futures, according to a release on the website.
Interestingly, the CME Group was one of the first cryptocurrency exchanges on the market to start offering Bitcoin futures, though they were cash-settled. Bakkt then starting offering Bitcoin-settled futures, which many heralded as a boon for the industry, though the longlasting effects of that have yet to be seen.
Now that the CME Group is bringing with options, it’s leveling the playing field with its competitors. “Hedge bitcoin exposure or harness its performance with futures and options on futures developed by the leading and largest derivatives marketplace,” the website reads, trying to pitch the offering to customers.
It then details the following:
“In response to growing interest in cryptocurrencies and customer demand for tools to manage bitcoin exposure, CME options on Bitcoin futures (BTC) are now trading. The value of options on Bitcoin futures is based on the regulated CME CF Bitcoin Reference Rate (BRR) and settles into actively traded Bitcoin futures.”
Essentially, Bitcoin options, futures, and more are in place to provide investors with more options regarding the market. On top of this, it ensures that the cryptocurrency space is a little bit more legitimate, offering many of the features that traditional stock exchanges and markets already have.
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