Deribit Launches Bitcoin and Ether Options Tied to the US 2024 Elections

Deribit, a top crypto exchange for derivatives, is gearing up to launch Bitcoin and Ether options tied to the election. With more than $2 billion in open interest in its perpetual and futures markets in the last day, Deribit has been a major force in the crypto options arena since 2020.

Cryptocurrency markets are surging after a failed assassination attempt on ex-President Donald Trump. As the US 2024 Elections approach, traders are anticipating a major impact on market trends.

In response to this heightened interest, Deribit is launching Bitcoin and Ether options contracts expiring on November 8, just three days after US citizens vote for the President.

These election-related options will begin trading on July 18, allowing clients to strategically position themselves ahead of the anticipated volatility. Deribit’s official Twitter account announced the early introduction, highlighting its purpose:

“The early introduction is aimed at enabling our clients to position themselves effectively… for the upcoming November 5 US elections, speculate, hedge, and more.”

Deribit’s impressive open interest figures underscore its significance in the crypto options market. Since 2020, the exchange has handled a substantial 70% of the total Bitcoin options trading volume, which amounted to $35.7 billion in April 2024.

The addition of election-related options further expands Deribit’s suite of trading products, which have evolved over the years to meet the diverse needs of its clients.

President Donald Trump's unwavering support for the crypto industry has caught the attention of investors. If re-elected, Trump has promised crypto-friendly policies and has even expressed interest in boosting Bitcoin mining in the USA.

As a result, the Bitcoin market is gearing up for a major rally in anticipation of Trump’s potential return to office.

Institutional participation is also on the rise, with spot Bitcoin ETF inflows reaching $422 million on Tuesday, June 16, the highest in six weeks. Blackrock’s IBIT alone witnessed significant inflows, pushing its assets under management (AUM) to over $18.5 billion since inception.

At the time of writing, Bitcoin (BTC) is trading just below the $65,000 mark, up nearly 2% in the last 24 hours. Ethereum (ETH) is also reporting a nearly 2% gain, exchanging hands at around $3,500.

In summary, Deribit’s election-driven options provide a timely opportunity for investors to navigate post-election volatility, while the crypto market braces itself for potential policy shifts under a Trump reappointment.

The above is the detailed content of Deribit Launches Bitcoin and Ether Options Tied to the US 2024 Elections. For more information, please follow other related articles on the PHP Chinese website!