Deribit's New Bitcoin, Ether Options Tied to U.S. Elections Get Thumbs Up From Crypto Traders

Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.

Traders said these options will help define risk and protect capital from expected volatility in the lead-up to and following the binary event.The introduction of the so-called election expiry options tied to market leaders bitcoin and ether has garnered positive feedback from traders.

The impending election may be most important for cryptocurrencies, as Republican candidate Donald Trump has recently embraced digital assets, standing apart from his rival incumbent, Joe Biden. Though Trump has not yet set out detailed proposals for crypto regulation, his recent outreach to bitcoin miners and his promised appearance at the upcoming Nashville conference has won him the industry's support, establishing BTC and the wider market as a bet on his presidency.

Deribit's election expiry options will go live on July 18 at 8:00 UTC and expire on Nov. 8, or three days after the election results due on Nov. 5. On Deribit, one option contract represents one BTC or ETH.

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