CME Group, the derivatives marketplace, is planning to expand its options expiries for Bitcoin and Ethereum to satisfy increased demand from clients amid intensified market volatility. The company aims to make its suite of crypto options available for BTC and ETH contract expiries every business weekday, Monday to Friday, pending regulatory approval. Currently, expiries for micro-sized options on these two crypto futures contracts are offered on Mondays, Wednesdays, and Fridays. The CME also offers monthly and quarterly expiries for BTC and ETH options on its futures contracts. If approved, the company seeks to have the new expiries available starting May 22. Giovanni Vicioso, CME Group Global Head of Cryptocurrency Products, stated that the platform aims to provide market participants with options contracts that offer greater precision and versatility for managing short-term Bitcoin and Ethereum price risks. The platform saw an increase in demand for Bitcoin and Ethereum futures and options, recording notional values of over $3 billion in Q1 2023. Additionally, the all-time high for Ether options contracts was 311 on February 22, while OI hit a record of 1,800 contracts on March 24.
