The world’s leading and most diverse market place, Chicago Mercantile Exchange (CME), <a href="https://www.cmegroup.com/cme-group-futures-exchange/options-bitcoin-futures.html">announced</a> on Nov. 12 options on its Bitcoin futures contracts will be available for trading starting Jan. 13, 2020, pending regulatory review.

 According to CME Group Global Head of Equity Index and Alternative Investment Products, Tim McCourt:
<blockquote>"Since the launch of our Bitcoin futures nearly two years ago, clients have expressed a growing interest in options as another way to hedge and trade in these markets.We have worked closely with clients and the industry to establish a robust and increasingly liquid underlying futures market here at CME Group, and we believe Bitcoin options will now offer our customers greater precision and flexibility to manage their risk."</blockquote>
Moreover, the CME Group specified one Bitcoin futures contract will represent 5 BTC quoted in U.S. dollars. I will have a block minimum of five contracts. As per the announcement:
<blockquote>“Option exercise results in a position in the underlying cash-settled futures contract. In-the-money options are automatically exercised into expiring cash-settled futures, which settle to the CME CF Bitcoin Reference Rate (BRR) at 4:00 p.m. London time on the last Friday of the contract month.”</blockquote>
<h2>Rapid Adoption of Bitcoin Futures</h2>
Particularly, since the introduction of <a href="https://www.cryptoknowmics.com/crypto/first-regulated-options-contract-for-bitcoin-futures-on-bakkt/">Bitcoin futures</a> in December 2017, many users have rapidly adopted them. The key highlights into the growth of this market are:
<ul>
 	<li style="font-weight: 400">22 successful futures expiration settlements since launch</li>
 	<li style="font-weight: 400">3,500+ individual accounts trading</li>
 	<li style="font-weight: 400">Average daily volume of 6,500+ contracts in 2019, equivalent to about 32,500 bitcoin</li>
 	<li style="font-weight: 400">47 percent of trading volume is from outside the U.S.</li>
</ul>
In addition, CME is the only derivatives market place where users can hedge benchmark trade options on futures across every investible class of assets. The firm avernges a daily volume of 4.3 million contracts in 2019 upto now.

In conclusion, back in  October, the firm said it expects to see high demand in Asia for its upcoming Bitcoin options product. Furthermore, McCourt claimed that options would likely enable Bitcoin miners to more accurately hedge the costs of their production.

CME Group Confirms Date to Launch Bitcoin Options

The world’s leading and most diverse market place, Chicago Mercentile Exchage (CME), announced on Nov. 12 options on its Bitcoin futures contracts...%

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CME Group Confirms Date to Launch Bitcoin Options

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