Is Galaxy Digital All Set to Launch ‘Crypto Options Contracts' in the Near Future?

    As per latest market data available online, BTC futures recently surged past the $10k mark earlier today on the Chicago Mercantile Exchange (CME). It now remains to be seen what the future has in store for this novel digital offering.

    • It appears as though a number of institutional players are keen on availing of such offerings as and when they make their way into the crypto market.
    • A number of experts believe that the entry of ‘Crypto Options Contracts’ will allow for the entire crypto industry to stabilize in a sustainable, long-term manner.
    • According to an all new media report released late yesterday afternoon, Mike Novogratz's Galaxy Digital is looking to expand its scope of operations by allowing users to buy crypto options contracts via its digital trade interface.

    For those of our readers who may not be aware of what a Bitcoin (BTC) options contract is, it is essentially a crypto derivative tool that make use of the currency’s volatile market conditions (by strategically hedging risks) so as to increase its customers returns. In this, there are two types of crypto options that can be purchased — namely, ‘call options' and ‘put options'.

    Galaxy Digital's Yoshi Nakamura, recently spoke with a respected media outlet wherein he told the interviewer that over the course of the past few months, more and more crypto-related businesses (such as mining firms and lenders) have been showcasing a lot of interest in crypto options.

    According to an official working for BlockTower (who wishes to remain unnamed at the moment), since the start of 2019, there has been a market increase in the overall interest towards crypto options (that too primarily from non-crypto firms.)

    As per the above linked report, Galaxy Digital is not the only big-name player looking to enter the crypto options market. To be a bit more specific, we can see that there currently exist a number of OTC trading entities such as Akuna Capital and Cumberland that are providing their customers with the option of purchasing crypto options in a highly streamlined manner.

    In closing out this piece, it is worth highlighting that one of the main reasons why a lot of people (31% to be exact) don't like using crypto-assets is because of the high volatility that is associated with them. Speaking of which, bitcoin has recently crossed $11,000 BTC/USD, the first time since March 2018, but has since dropped a bit but still remains bullish for the future.

    Bitcoin’s price is $9,313.72 BTC/USD exchange rate today. The real-time BTC market cap of $169.39 Billion currently ranks #1 with a chart dominance at 64.78%, daily trading volume of $7.42 Billion and live coin value change of BTC 2.42 in the last 24 hours.

    Live Bitcoin (BTC) Price:

    1 BTC/USD =$9,313.7191 change ~ 2.42%

    Coin Market Cap

    $169.39 Billion

    24 Hour Volume

    $7.42 Billion

    24 Hour VWAP

    $9.1 K

    24 Hour Change


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    Shiraz J
    Shiraz is a multi-year cryptocurrency analyst and blockchain journalist residing in Melbourne, Australia. When he is not writing about the bitcoin ecosystem, he enjoys the art of meditation, playing the blues and traveling the world.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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