Finance September 20, 2019 08:28 AM UPDATED 13 HOURS AGO CME expands bitcoin footprint The operator of the world's largest futures market seeks to add options to the cryptocurrency futures early next year. LYNNE MAREK TWEET SHARE SHARE EMAIL PRINT Bloomberg CME Group, which operates the biggest futures market in the world, said it will launch an options contract on the cryptocurrency bitcoin. The Chicago company said in a statement today the options contract will track its bitcoin futures contract, which was launched in 2017. It’s seeking to start the new trading in the first quarter of next year, pending regulatory review. Back in December 2017, CME and smaller rival Cboe Global Markets both launched bitcoin futures contracts, but trading in the new area has grown slowly and Cboe pulled out of the market earlier this year. Nonetheless, CME says interest continues to grow with about 7,000 of its futures contracts traded on average each day so far this year and more big institutional investors gradually moving into the area.
Bitcoin futures were a bust because the spreads were outrageous. I doubt the options will be any different.