Trades completed in the first US regulated fitcoin options on ICE futures U.S.
ATLANTA & NEW YORK--(BUSINESS WIRE)-- Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced the first block trade of BakktTM Bitcoin (USD) Monthly Options (BTM) submitted to ICE Futures U.S.
“Based on our benchmark physically delivered bitcoin futures, these options contracts offer our customers a capital-efficient new tool for trading and for managing volatility, price risk and income generation,” said Trabue Bland, President of ICE Futures U.S.
Bakkt Bitcoin Options settle into the underlying Bakkt Bitcoin (USD) Monthly Futures contract two days prior to expiry. Price discovery for the contract occurs completely within a federally regulated market and has no exposure to unregulated bitcoin spot markets. The first trade was executed between Galaxy Digital Trading and XBTO.
“We believe the development of the institutional market infrastructure leads to deeper liquidity in digital assets,” said Josh Lim, Head of Trading Strategy at Galaxy Digital Trading. “The advent of centrally-cleared bitcoin options on a regulated U.S. exchange is a major milestone for this market.”