Source:
https://scmp.com/business/banking-finance/article/3032219/exchange-provider-cme-group-expects-bitcoin-options-be-hit
Business/ Banking & Finance

Exchange provider CME Group expects bitcoin options to be a hit with Asian cryptocurrency traders, miners

  • Slated for launch in the first quarter 2020, the new bitcoin options should prove as popular as futures contracts, says CME Group’s Tim McCourt
  • Bitcoin price has more than doubled this year, having plunged 40 per cent from a peak in June; options could help hedge against volatility
McCourt said he expects bitcoin options will enable miners of the cryptocurrency to more effectively hedge the cost of their production. Photo: Reuters

CME Group said it expects the upcoming launch of options on bitcoin futures contracts to draw demand from cryptocurrency miners and traders in Asia.

The US futures exchange is aiming to launch the new crypto-derivative product during the first quarter of 2020.