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Jinse Finance reported that the trading volume of cryptocurrency options on the Chicago Mercantile Exchange (CME) recorded double-digit growth in July. Deal activity rose 24 percent to $940 million, the first increase in four months, according to data tracked by CCData. Bitcoin options volume rose 16.6% to $734 million, while Ethereum options volume rose 60% to $207 million. Additionally, futures volume on the CME fell 17.6% to $39.1 billion, while total derivatives volume (futures and options) fell 17.0% to $40.1 billion, according to CCData.
According to a CCData report, the increase in CME Bitcoin options trading volume indicates that institutions may use options to hedge their positions due to uncertainty in the market.