BitMEX Options Trading Platform Launched With Target Of $500 Million Volume In 3 Months
Key Points:
This move positions BitMEX to compete with established players such as Deribit, Binance, OKX, and Bybit in the options trading market.
Known for its high-leverage perpetual swaps, the exchange aims to capture a significant market share with BitMEX options trading service. The platform allows users to trade options margined in Bitcoin (BTC), USDT, or USDC, offering a full suite of institutional-grade options for various assets, including Bitcoin, Ether, XRP, BNB, Solana, and Dogecoin.
In an effort to attract traders, BitMEX is offering zero trading fees for all options throughout May. Additionally, users who deposit over $1,000 and trade at least one option will receive a 20 USDC sign-up bonus. The exchange also plans to provide educational resources for new users of BitMEX options trading.
BitMEX CEO Stephan Lutz has set an ambitious target of reaching $500 million in trading volume within three months, as reported by The Block. BitMEX options trading comes at a time of growing interest in cryptocurrency options within the industry. While American stock exchanges have filed applications with the U.S. SEC to launch options on spot cryptocurrency ETFs, regulatory action is pending, with public comments being collected on the matter.
With its strategic partnership and attractive incentives, BitMEX aims to carve out a significant presence in the competitive landscape of cryptocurrency options trading.
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