US banking giant JP Morgan believes bitcoin traders are anxiously waiting for Monday’s CME BTC options debut.
Highly Anticipated Bitcoin Options
When Bakkt announced its bitcoin futures contracts last year they were widely seen as highly anticipated in the build-up to launch day in September. What actually happened was another bearish day on crypto markets as bitcoin retreated further.
Institutional products are slow-building and need time to gather momentum. Four months later and Bakkt futures are showing healthy volumes and growing open interest.
ICYMI: Thursday’s Bakkt Bitcoin Monthly Futures:
Traded contracts: 3233 ($25.47 million, -21%) All time high: 6601 (12/18/2019) Open interest: $9.62 million (+1%)
Sats for servercosts: https://t.co/TF6sNUwWpO pic.twitter.com/Sb6KxoJBFE
— Bakkt Volume Bot (@BakktBot) January 10, 2020
Next week will see the launch of another institutional bitcoin product from the Chicago Mercantile Exchange. Options differ slightly from futures in that the contract holder is obligated to sell a futures…