JPMorgan Chase, the American multinational investment bank and financial services holding company believes interest will be high in CME Group’s new Bitcoin (BTC) options.
The largest bank in the United States believes that interest will be high when they launch on Jan. 13. On Jan. 10 a group of analysts at JPMorgan Chase led by Nikolaos Panigirtzoglou noted interest in CME’s existing Bitcoin futures had spiked in the run-up to the release as quoted by Bloomberg.
On the shift in investor behavior, JPMorgan summarized:
“This unusually strong activity over the past few days likely reflects the high anticipation among market participants of the option contract.”
Contrast With December Launch Of Options From Bakkt
However, it contrasts with the December launch of options from Bakkt, a competitor to CME while the analysts adding that volumes for that product staying “rather small.” Overall, interest in Bitcoin futures has traditionally taken a long period to gather momentum.
<img width="710" height="458" src="https://www.cryptonewspoint.com/wp-content/uploads/2020/01/shutterstock_786941158-710x458-1.jpg" alt="jpmorgan btc options " class="wp-image-8122 lazyload" />
The start of futures trading further came in advance of a Bitcoin price drop, the absence of which could distinguish next week’s options launch.
Source: Cointelegraph