Crypto Derivatives Exchange FTX Launched Bitcoin Options Trading

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Cryptocurrency derivatives exchange FTX has launched Bitcoin (BTC) options trading on Jan. 11.

FTX CEO Sam Bankman-Fried announced in a tweet yesterday that options were listed on the trading platform. Furthermore, later the same day he also claimed that options trading volume on the exchange reached $1 million in about 2 hours.

Noteworthy volume

While the announcement does not specify which crypto assets are supported by the options just launched on the platform, the website only shows Bitcoin-based options. According to cryptocurrency data website CoinGecko, FTX is the eighth top crypto asset exchange based on volume, with $277,8 million traded over the last 24 hours.

FTX was founded in early 2019 and provides professional derivative trading products, including quarterly and perpetual contracts on various crypto assets, leverage tokens and over-the-counter (OTC) services. The trading platform has also recently seen an investment from major crypto exchange Binance, as Cointelegraph reported in late December.

Bankman-Fried did not respond to Cointelegraph’s request for comment as of press time.

The Market

Cryptocurrency derivatives are seeing positive developments with increasing frequency. A Malta-based cryptocurrency exchange OKEx announced that it will launch crypto options trading at the end of last month. Furthermore, in mid-December a Paris-based asset management firm Napoleon AM announced the launch of a regulated Bitcoin fund.

Additionally, the international regulatory framework is becoming increasingly clear and favorable. For instance, recently the South Korean Presidential Committee on the Fourth Industrial Revolution has recommended the government to allow financial institutions to launch cryptocurrency-based financial products.