Odaily Planet Daily News CCData data shows that in July, the trading volume of CME cryptocurrency options increased by 24% to 940 million US dollars, the first increase in four months. Bitcoin options volume rose 16.6 percent to $734 million. Ethereum options volume rose 60% to $207 million.
Additionally, futures volume on the CME fell 17.6% to $39.1 billion, while total derivatives volume (futures and options) fell 17.0% to $40.1 billion, according to CCData.
The CCData report stated that the increase in the volume of CME Bitcoin options transactions indicates that institutions may use options to hedge their positions due to uncertainty in the market. (CoinDesk)