DRW Holdings LLC said it’s the first large trading firm to offer over-the-counter bilateral crypto options, paving the way for more institutional investors to deepen their participation in the cryptocurrency market.
Cumberland, the Chicago-based firm’s crypto division, is now a liquidity provider for the so-called bespoke options, targeting major crypto holders like Bitcoin miners and investors that need to hedge risks or generate yields. The offering will allow traders to customize each trade’s expiry date, strike price and underlying coins.
