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Blockchain analytics firm Arkham Intelligence reportedly plans to launch a cryptocurrency derivatives exchange as soon as next month, according to a Bloomberg report.&nbsp;
The exchange will target retail traders and compete with existing platforms such as Binance, Bloomberg said, citing a person familiar with the matter.&nbsp;
Arkham is already reportedly in the process of obtaining a license in the Dominican Republic, where it plans to operate the exchange.&nbsp;
<figure><img alt="Blockchain data firm Arkham to launch derivatives exchange: Report" src="https://s3.cointelegraph.com/uploads/2024-10/01927d5b-79ff-78dc-a2cf-e7136e499c15" title="">
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 Arkham’s blockchain tracker. Source: Arkham
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Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-etf-options-expected-q1-2025-bloomberg-analyst" rel="noopener noreferrer nofollow" target="_self" text="null" title="https://cointelegraph.com/news/bitcoin-etf-options-expected-q1-2025-bloomberg-analyst">Bitcoin ETF options expected by Q1 2025: Bloomberg analyst</a><advertisement>
 The crypto derivatives market is exploding, largely driven by trading activity from retail investors.&nbsp; 
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Crypto derivatives trading volume exceeded $3 trillion in September, up from approximately $1.5 trillion one year prior, according to a report by CCData.&nbsp;
Adoption is being spurred by a proliferation of crypto derivatives products, including on established exchanges such as the Chicago Mercantile Exchange (CME).&nbsp;
On Sept. 29, CME’s <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/cme-bitcoin-friday-futures-launch-31000-contracts" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Bitcoin Friday Futures (BFF) debuted</a> in what the derivatives exchange dubbed the “most successful crypto futures launch ever.”
The contracts contributed to a record first-day trading volume among crypto futures offerings, with over 31,498 contracts traded across two contract weeks, according to CME.&nbsp;
The BFFs are sized at only one-50th of a Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow" target="_self" text="null" title="https://cointelegraph.com/bitcoin-price">BTC</a>). It is a similar offering as Coinbase’s “nano” Bitcoin futures, which are sold in increments of one-100th of 1 BTC.&nbsp;
On Oct. 8, Crypto.com’s North American derivatives exchange, Nadex, listed derivatives contracts tied to memecoins including Pepe (<a data-ct-non-breakable="null" href="https://cointelegraph.com/pepe-price-index" rel="noopener noreferrer nofollow" target="_self" text="null" title="https://cointelegraph.com/pepe-price-index">PEPE</a>) and Floki Inu (FLOKI).
It also listed derivative products tied to Dogelon Mars (ELON) and BONK, according to Oct. 7 <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/crypto-com-us-exchange-memecoin-derivatives" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Commodity Futures Trading Commission (CFTC) filings</a>.&nbsp;
Options on BTC exchange-traded funds (ETFs) are likely to launch in the United States by the first quarter of 2025, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-etf-options-expected-q1-2025-bloomberg-analyst" rel="noopener noreferrer nofollow" target="null" text="null" title="null">according to James Seyffart, a Bloomberg Intelligence analyst</a>.
Arkham is best known for offering a popular tool for tracking blockchain transactions and identifying the entities associated with various crypto wallet addresses.
It raised $12 million from investors including Sam Altman, the founder of ChatGPT maker OpenAI.
Arkham’s token, ARKM, is up more than 16% after Bloomberg’s report, <a data-ct-non-breakable="null" href="https://www.coingecko.com/en/coins/arkham" rel="noopener noreferrer nofollow" target="_blank" text="null" title="https://www.coingecko.com/en/coins/arkham">according</a> to CoinGecko.
Magazine:&nbsp;<a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/anti-aging-multi-millionaire-bryan-johnson-almost-devoted-life-crypto/" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Anti-aging tycoon Bryan Johnson almost devoted his life to crypto</a>

Blockchain data firm Arkham to launch derivatives exchange: Report

Cointelegraph

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