An international derivatives marketplace recently announced the introduction of options on Bitcoin Friday futures, set to launch on February 24, pending regulatory approval. This will mark the first cryptocurrency options offered by the marketplace that will be financially settled, with expiries available each business day from Monday through Friday.
The new options aim to provide traders with enhanced capabilities for managing short-term price risks associated with Bitcoin. The smaller contract sizes and daily expirations are designed to help market participants efficiently adjust their exposure to Bitcoin. These additions come in response to the successful reception of the Bitcoin Friday futures, which have already seen substantial trading activity and interest.
The financial settlement of the options on Bitcoin Friday futures will further diversify the existing product offerings, which already include physically settled options on Bitcoin, Ether, Micro Bitcoin, and Micro Ether futures. This development is anticipated to give investors greater flexibility in managing their risk.
Since their launch on September 29, Bitcoin Friday futures have been recognized as the most successful cryptocurrency product introduced by this marketplace. Trading statistics reveal over 775,000 contracts exchanged, highlighting an average daily volume of approximately 9,700 contracts. Notably, nearly half of these contracts were traded during non-U.S. market hours, pointing to a robust international interest in the product.
The introduction of these new financial instruments reflects the ongoing evolution of the cryptocurrency market and the desire of traders for innovative tools to navigate the complexities of digital assets more effectively.