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CME Bitcoin Options Saw Volume Surpass $2.3Mln on First Day of Trading

By Robin Wong | January 15, 2020
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The new CME Bitcoin (BTC) futures options has reportedly managed to cross the $2.3 million benchmark, volume-wise, after the first day of available for public trading. 

Specifically, the data was recorded and disclosed by the team at CME, deeming the timely release of the new feature to be a success, with a total of 55 contracts facilitated. 

Every of the finalized contract is equivalent to the value of 5 Bitcoin, which can be translated to $2.34 million for the entire 55 contracts. 

There has also been a rally in the Bitcoin markets on the official launch date of the futures options, with a 5% surge compared to normal days, which resulted in the figure reaching the high point of $8,550. Bitcoin has not been able to achieve such numbers since the middle of November last year. 

Previously, tension has risen during the time that led to the official introduction time of the options last week, with Bitcoin price value to potentially experience a sharp incline. CME, together with its rival Bakkt, has reportedly shown an increased level of enthusiasm in futures during that timeframe. 

On January 13th, Bakkt’s futures has finalized a total of 2,907 contracts, with estimated value stand at $19.94 million, suffering from a 10% drop compared to the previous session. At the same time, open interest has gone up 7%, hitting $9.58 million.

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