According to CoinDesk, crypto trading company GSR announced on Wednesday that it had completed its first options transaction related to the CD20 index. The CD20 index is a broad crypto market index launched earlier this year, similar to the Dow Jones Average for U.S. stocks. GSR completed the options transaction based on the CoinDesk 20 (CD20) index with St. Gotthard Wealth, an asset management company based in Zug, as the counterparty. "Options are a powerful tool for managing risk and volatility, and we are enthusiastic about continuing to play a core role in the expansion of this market," said Rich Rosenblum, co-founder and co-CEO of GSR, in a statement shared with CoinDesk. The largest component of the CD20 index is Bitcoin, accounting for 30%, Ethereum for 19%, SOL for 19%, and XRP for 7%. Ruchir Gupta, head of options and treasury at GSR, said in an email to CoinDesk: "While the BTC and ETH options markets are now mature enough, investors have not had a way to observe or hedge risks on the performance of the broader crypto market to date."
