CME Group Announces First Options Trades on Bitcoin Friday Futures

It was revealed Tuesday that the transaction, a block trade, was carried out between Cumberland DRW and Galaxy and cleared by Marex.

“We are pleased to see such early and strong support for these new options products,” said Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group. “These smaller-sized, cash-settled contracts, with expiries available every day of the business week, will provide traders with even greater precision to manage short-term bitcoin price risk.”

Cumberland DRW also expressed enthusiasm for the new product, with Roman Makarov, Head of Options Trading, stating: “Innovative products like this give users increased liquidity, flexibility and optionality to engage in the rapidly expanding intersection between traditional and crypto markets.”

Marex, which cleared the first block trade, highlighted the contracts’ benefits in managing market volatility. “These contracts will sharpen visibility into short-term volatility, empowering traders with a precise risk management tool,” said Brooks Dudley, Head of Digital Assets Sales at Marex Capital Markets.

Galaxy’s Mike Harvey, Head of Franchise Trading, noted that the low notional value of the contracts makes them accessible to a wider range of market participants.

The launch expands CME Group’s cryptocurrency product suite, adding to its existing Bitcoin, Ether, Micro Bitcoin, and Micro Ether futures options.