Deribit launches new Bitcoin and Ethereum options linked to the U.S. election

The cryptocurrency options exchange Deribit announced new options on Tuesday, allowing traders to effectively manage their Bitcoin and Ethereum positions against the backdrop of the U.S. presidential election results on November 4th. The new BTC and ETH election expiry options (8 November US ELECTION Expiry) will start trading at 16:00 on July 18.

Jeff Anderson, a senior trader at STS Digital, said: "The U.S. election is a focus for risk assets (including cryptocurrencies), which will have a dual impact on fiscal policy and financial stability. Options are an important tool for hedging this uncertainty, so it's only natural for Deribit to launch this themed product."

Laurent Kssis, crypto ETF expert at CEC Capital said: "These options will allow traders to adjust before, during and after the elections, leaving three days of buffer time after the election results are out. This is a good way to achieve leverage while hedging risks."