CME Group has expanded upon its cryptocurrency offerings, this time launching options for its Micro Bitcoin and Micro Ether futures offerings.
The CME on Monday announced it will begin offering micro-sized options that will allow investors to manage their cryptocurrency exposure to as low as one-tenth of a bitcoin or ether, respectively. Traders will be able to take on either short- or long-term positions via weekly or monthly options, which will settle into CME’s existing liquid Micro Bitcoin and Micro Either futures.
Crypto financial services provider Galaxy Digital Holdings Ltd (TSX: GLXY) will act as the liquidity provider for the transactions. “CME Group Micro Bitcoin and Micro Ether options are an important step in the development of a thriving marketplace for institutions and sophisticated investors who want crypto exposure in a regulated environment,” said Galaxy Digital Managing Director, Global Co-head of Trading Robert Bogucki.
Cryptocurrencies have been sent rallying over the weekend, after Luna Foundation Guard (LFG) announced intentions to buy $3 billion worth of bitcoin as a reserve for stablecoin TerraUSD, after already making a $125 million purchase of the cryptocurrency last week.
Information for this briefing was found via CME Group. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.