Bitcoin Options market is now the “Next Chapter,” says Tim McCourt

The SME options market was rolled out earlier this week to provide the type of services currently lacking in both Bitcoin and Ethereum. According to its managing director, Tim McCourt, the CME options will redefine the crypto space and provide good options for the crypto community. He said the equity is set to become the next chapter in the crypto space.

McCourt reiterated that the company had seen great participation in the CME futures, and the market for CME could explode as the year rolls by.

CME futures doing better than Bakkt

When compared alongside Bakkt, it’s obvious that CME’s future is leading by a wide margin in terms of market participation. The new market has recorded an unprecedented number within the first 24 hours of its lunch, overtaking its rival Bakt that was rolled out a few days before.

In a recent blog post by McCourt, he pointed out that the CME future has recorded strong results just days after its launch. He revealed that on January 8, more than 17,00 contracts worth about 85,000 bitcoins were carried out on the CME futures.

Also, the participation affected the number of open positions, as there has been a daily increase since the security was launched. Since the beginning of the year, the number of open positions have risen to 5,000 contracts.

He stated that the company is optimistic about the New Year and hopes the development will continue throughout the year. He stated that the company is hoping that the development will bring further opportunities and better returns for CME’s clients, industry partners, as well as traders.

CME introduces options on CME bitcoin

McCourt revealed that the CME option is the next phase of the Options market. He said that the company is glad to offer more freedom to investors and traders when trading the hedged bitcoin and leading cryptocurrency on a regulated platform.

He pointed out that CME is the single derivatives platform that offers clients and traders the opportunity of trading options across almost all types of investable asset class. With the platform averaging daily volume of more than 4 million options contracts this year, there can never be a better time to offer options on CME Bitcoin futures, McCourt concluded.

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      A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.