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LedgerX has introduced US Commodities Future Trading Commission (CFTC) licensed Bitcoin (BTC) savings account. The Swap execution facility license and CFTC derivatives clearing organization license have certified the new savings certificate of LedgerX.

COO of LedgerX said every product introduced by the company need both the licenses. The company aims to offer a variety of packages to the clients in a package form.

The licenses allow the users to earn revenues on Bitcoin assets. Many users buy the Bitcoin and hold them for long for appreciation. The investors can make use of Call Overwrite technique to deposit bitcoin into the LedgerX and sell the call option with a longer date to earn better earnings.

LedgerX has developed the project to simplify the trading of options. It is just the point and click format. This less sophisticated mechanism allows the bull traders to maximize earnings on their holdings.

The users can select the anticipated earnings for the BTC option with the help of product interface and the number of bitcoins on which they wish to earn.

LedgerX has recorded almost 70% of the trading volumes from options in the past 3 months. The average trade size is estimated at $60,000. The option contracts are offered in 3 month and 6 month duration. The users need to pay a transaction fee for each of the services.

The Chicago Mercantile Exchange (CME) in alliance with UK-based digital asset exchange yesterday has introduced a reference rate for Ethereum (ETH) and real-time index for the US dollar.

The head of equity products at CME, Tim McCourt said physically-settled cryptocurrency futures have clear demand. Both CBOE and the fellow CME offer the future contracts, whose price is tied to the price of BTC. The contracts are settled in cash instead of in cryptocurrency.

Right now, McCourt has rubbished the reports that the launch of bitcoin futures by CME have caused the bear market.

It is to be noted that CME has introduced the bitcoin futures on December 2017 the same day bitcoin has reached the peak. According to the US Federal Reserve researchers, the bear market is due to investors taking short positions in Bitcoin futures. However, McCourt said the volume of futures have increased considerably, but it is too small right now to cause a bear market.

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