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CME Bitcoin Options Trade $2.3M in Debut, BTC Price Hits 2-Month High

CME Bitcoin Options Trade $2.3M in Debut, BTC Price Hits 2-Month High

The Cointelegraph ​

Cryptocoins News / The Cointelegraph ​ 8 Views

A warm reception greets the industry’s latest Bitcoin options rollout as reported volumes elsewhere also deliver surprises.

Bitcoin (BTC) futures options from CME Group saw volumes in excess of $2.3 million on the product’s first day of public trading, the company has confirmed.&

Data from CME’s official website confirmed the successful rollout on Jan. 13, which began as scheduled and ultimately saw 55 contracts change hands.&

Investors lap up BTC options products

Each contract corresponds to 5 BTC, meaning that at current prices, the 55 contracts were worth $2.34 million.&

Bitcoin markets rallied on release day, rising by more than 5% to hit highs of $8,550. Those levels had previously remained absent since mid-November.

As Cointelegraph reported, enthusiasm was palpable in advance of the options debut last week, with Bitcoin likewise gaining significantly in the run-up to Monday. CME, along with competitor Bakkt, reported increased interest in futures during that period.&

For Monday, Bakkt’s futures delivered total volumes of 2,907 contracts worth $19.94 million, nonetheless down 10% on the previous session. At the same time, open interest was up 7% to $9.58 million.

FTX reported volumes spike

The past seven days have in fact seen two options releases, the other being from FTX, which began trading days before CME.&

According to live company data, FTX saw reported volumes of 3,618 BTC ($30.8 million) for its options over the past 24 hours — conspicuously higher than others’ figures.

Cointelegraph reached out to CME and Bakkt but had not received a response as of press time.

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