Crypto.com’s North American derivatives exchange, Nadex, has expanded its offerings to include derivatives contracts linked to popular memecoins like PEPE and FLOKI. According to Oct. 7 filings with the U.S. Commodity Futures Trading Commission (CFTC), traders can now hedge their exposure to these volatile tokens.

In addition to PEPE and FLOKI, Nadex has listed derivatives for Dogelon Mars (ELON) and BONK, bringing the total market capitalization of these memecoins to nearly $7 billion, according to CoinMarketCap. These new contracts join Nadex’s existing suite of crypto derivatives, which already includes products tied to major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).

What Are Touch Bracket Contracts?

The listed memecoin derivatives are “touch bracket” contracts, which pay out if a token’s price hits a predetermined ceiling or floor before the contract expires. Nadex highlighted that these instruments are popular in highly volatile markets like crypto and have a unique structure that minimizes the risk of contract manipulation.

Rising Popularity of Crypto Derivatives in the US

Crypto derivatives are gaining traction across U.S. exchanges, with platforms like the Chicago Mercantile Exchange (CME) also expanding their product offerings. Nadex alone reported that trading volumes for contracts tied to BTC, ETH, and Litecoin exceeded 28 million in 2023.

The SEC recently authorized Nasdaq to list options linked to BlackRock’s BTC exchange-traded fund (ETF), iShares Bitcoin Trust (IBIT), which is still awaiting further regulatory signoff from the CFTC.

As demand for regulated crypto products grows, exchanges like Nadex are rapidly broadening their portfolios to meet traders’ needs, ensuring a diverse range of options in this dynamic market.

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