CME Bitcoin Options Trade $2.3M in Debut, BTC Price Hits 2-Month High

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Bitcoin (BTC) futures options from CME Group saw volumes in excess of $2.3 million on the product’s first day of public trading, the company has confirmed. 

Data from CME’s official website confirmed the successful rollout on Jan. 13, which began as scheduled and ultimately saw 55 contracts change hands. 

Investors lap up BTC options products

Each contract corresponds to 5 BTC, meaning that at current prices, the 55 contracts were worth $2.34 million. 

Bitcoin markets rallied on release day, rising by more than 5% to hit highs of $8,550. Those levels had previously remained absent since mid-November.

As Cointelegraph reported, enthusiasm was palpable in advance of the options debut last week, with Bitcoin likewise gaining significantly in the run-up to Monday. CME, along with competitor Bakkt, reported increased interest in futures during that period. 

For Monday, Bakkt’s futures delivered total volumes of 2,907 contracts worth $19.94 million, nonetheless down 10% on the previous session. At the same time, open interest was up 7% to $9.58 million.

FTX reported volumes spike

The past seven days have in fact seen two options releases, the other being from FTX, which began trading days before CME. 

According to live company data, FTX saw reported volumes of 3,618 BTC ($30.8 million) for its options over the past 24 hours — conspicuously higher than others’ figures.

Cointelegraph reached out to CME and Bakkt but had not received a response as of press time.