Deribit's New Bitcoin and Ethereum Options Tied to the US Election
Cryptocurrency options exchange Deribit announced new options on Tuesday that allow traders to effectively manage their Bitcoin and Ethereum positions against the backdrop of the November 4th US presidential election results. The new BTC and ETH election expiry options (8 November US ELECTION Expiry) will start trading on July 18th at 4pm.Jeff Anderson, senior trader at STS Digital, said, "The US election is the focus of risk assets (including cryptocurrencies) and will have a dual impact on fiscal policy and financial stability. Options are an important tool to hedge against this uncertainty, so it is natural for Deribit to launch this thematic product."Laurent Kssis, cryptocurrency ETF expert at CEC Capital, said, "These options will allow traders to adjust before, during, and after the election, and leave a three-day buffer period after the election results are announced. This is a good way to obtain leverage and hedge against risk at the same time."
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