Deribit's new Bitcoin and Ethereum options are linked to the U.S. elections

2024-07-17 17:07:07

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ChainCatcher news, the cryptocurrency options exchange Deribit announced new options on Tuesday, allowing traders to effectively manage their Bitcoin and Ethereum positions in light of the U.S. presidential election results on November 4. The new BTC and ETH election expiry options (8 November US ELECTION Expiry) will start trading at 16:00 on July 18.

STS Digital senior trader Jeff Anderson stated, "The U.S. election is the focal point for risk assets (including cryptocurrencies) and will have a dual impact on fiscal policy and financial stability. Options are an important tool for hedging this uncertainty, so it is a natural move for Deribit to launch this themed product."

Laurent Kssis, a crypto ETF expert at CEC Capital, said, "These options will allow traders to make adjustments before, during, and after the election, leaving a three-day buffer after the election results are announced. This is a great way to achieve both leverage and hedge risks."

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