Crypto Platform Expands BTC and ETH Options Ahead of 2024 US Election

Deribit is launching BTC and ETH options expiring on November 8, 2024, ahead of the US presidential election.

This move aims to cater to investor strategies anticipating market movements tied to the election, scheduled for November 5.

The top derivatives exchange announced on social media that these early options will allow clients to speculate and hedge positions in response to potential election outcomes. Trading begins at 8 AM UTC on July 18 to facilitate strategic positioning.

Deribit has been a dominant force in the crypto derivatives market, contributing significantly to the $51.1 billion Bitcoin options trading volume, with over $2 billion in open interest in recent trading periods.

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This initiative adds election-related options to its diverse array of trading products developed to meet client demands.

The introduction of election-themed options aligns with a broader trend in blockchain-based political finance, enabling global participation in US election events.

This includes platforms like Polymarket, where users can engage in prediction markets on election outcomes amidst heightened market interest following recent political developments.

Alexander Stefanov