FalconX, an institutional-focused digital-asset prime brokerage, has unveiled its new Electronic Options platform, offering 24/7 over-the-counter (OTC) options trading for cryptocurrencies. The initial launch supports Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Hyperliquid (HYPE), with plans to expand to more altcoins in the future.
The platform addresses longstanding challenges in the crypto options market, such as fragmented liquidity and lack of round-the-clock access, by leveraging electronic execution for scalability and distribution. Josh Lim, global co-head of markets at FalconX, stated: "The options market is the next major frontier in institutional crypto. We built this platform to address the longstanding challenges of fragmented liquidity and lack of round-the-clock access. With FalconX Electronic Options, clients get the same execution quality our OTC desk is known for – now in a format designed for scale, distribution, and true 24/7 access."
This move comes amid growing demand for crypto options, driven by hedging, managed leverage, and volatility trading. Data shows volumes on platforms like Deribit have climbed to over $850 billion year to date, with traction primarily from market makers, hedge funds, venture capital funds, and crypto mining firms. The launch aligns with broader industry trends, including CME Group's plans to launch options for SOL and XRP futures, and Coinbase's acquisition of Deribit in August.
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