Cryptocurrency
‘The force is strong with the market’: The crypto derivatives market is heating up
As reported by The Block, “The market for derivatives tied to cryptocurrencies is heating up, according to the latest available data. “Bakkt, which rolled out its bitcoin futures product in September 2019, saw volumes for the product top $37 million – a performance record for 2020, data from Skew shows. “Rival CME Group saw open interest […]
As reported by The Block, “The market for derivatives tied to cryptocurrencies is heating up, according to the latest available data.
“Bakkt, which rolled out its bitcoin futures product in September 2019, saw volumes for the product top $37 million – a performance record for 2020, data from Skew shows.
“Rival CME Group saw open interest on its bitcoin futures increase to $314 million, another 2020 record. Its volumes hit $824 million. Futures allow traders to speculate on an underlying asset or hedge their risk in an underlying position.
“To the extent that they are important risk-management tools for institutional investors, the growth of the market perhaps serves as a signal of the maturation of the digital asset market…”