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Binance Adds Gold, Silver Options as Futures Volumes Surge
Binance launched gold and silver options after futures volumes hit $7.77B daily. The European-style USDT-settled options are open to retail buyers but not sellers.
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Binance launched options on gold and silver through Nest Exchange Limited, its Abu Dhabi Global Market-regulated platform. The move follows strong trading in perpetual futures on the metals, which Binance began offering in January.
Gold futures hit a daily record of $7.77 billion in volume, while silver futures reached $7.27 billion, a Binance representative told CoinDesk. Those volumes represented 3-8% of gold trading on COMEX and 9-20% of silver trading there.
Shunyet Jan, Binance's head of exchange and trading, said the decision responded to investor interest since the start of the year. "Since their launch earlier this year, our perpetual commodity contracts have generated strong demand, and commodity options are part of this momentum," he said in a statement.