PANews reported on January 30 that the Chicago Mercantile Exchange Group (CME) announced plans to launch cash-settled options linked to its Bitcoin Friday futures on February 24, and the specific implementation is subject to regulatory approval.

Giovanni Vicioso, head of global cryptocurrency products at CME, said the smaller size of these new options contracts and the daily expiration design provide market participants with a more capital-efficient tool to adjust their Bitcoin exposure. Since its launch in September last year, the Bitcoin Friday futures contract size is only 1/50 of 1 Bitcoin, which is smaller than the "nano" Bitcoin futures launched by Coinbase (1/100 of 1 Bitcoin). So far, the product has accumulated more than 775,000 contracts, with an average daily trading volume of about 9,700.

Earlier news, CF Benchmarks: CME's " Bitcoin Friday Futures" is an ideal choice for news traders .