JP Morgan Chase & Co has anticipated the launch of CME Group Inc options later in January, amid growing interest by institutions in Bitcoin-related contracts according to a report issued by Bloomberg.
The report also showed that CME is dominating the trading of Bitcoin futures on the regulated exchange.
Nikolaos Panigirtzoglou, Managing Director at JP Morgan said earlier this month that the activities regarding CME futures contract has increased strongly with relatively 69% open-interest from the end of the financial year. This is an indication of the increase in activities.
“This unusually strong activity over the past few days likely reflects the high anticipation among market participants of the option contract,” he said.
According to the report, Bitcoin’s intrinsic value has been on the rise, yet still below the market price following a significant variance mid-2019.