
Binance launched gold and silver options after perpetual futures hit $15B in peak daily volume. The European-style contracts settle in USDT, with retail limited to buying calls and puts.
Binance, the world's largest digital asset exchange by volume, rolled out options on gold and silver on Wednesday through its Abu Dhabi Global Market (ADGM)-regulated exchange, Nest Exchange Limited. The launch follows billions of dollars in trading on the exchange's gold and silver perpetual futures, which have been available since January.
A Binance representative said gold perpetuals hit a peak daily volume of $7.77 billion, while silver perpetuals reached $7.27 billion. Those peaks represented roughly 3–8% of COMEX gold volume and 9–20% of COMEX silver volume at the time. The new options are European-style and settle in USDT, referencing a weighted average of prices from multiple independent third-party data vendors.
Retail investors can buy call and put options on both metals, but they cannot write them. Binance restricts options writing to the exchange and designated market makers, citing the high risk and capital requirements. For retail buyers, the setup caps losses at the premium paid and eliminates the liquidation risk that comes with short options positions.
“We’ve seen strong demand for our commodity perpetuals since introducing them earlier this year, and commodity options build on that momentum,” Shunyet Jan, head of exchange and trading at Binance, said in an email. “With gold hitting record highs and investors seeking inflation hedges outside traditional equities, Binance’s commodity options offer users additional compliant, crypto-native ways to diversify without leaving the platform.”
A Binance representative added that the volume growth suggests user participation can ramp up quickly when access to traditional market exposure becomes simpler and more integrated. “Liquidity can become relevant quickly,” the representative said.
The exchange is pairing the launch with client-education videos and the standard risk disclosures required under the ADGM framework. Binance also plans to expand the options suite to other underlying assets, and is exploring the possibility of limited retail options writing under tighter rules.
Markets repositioned since June, but Binance held roughly 55% of user funds and 24% of spot trading volume, drawing net inflows in early July while the broader tracked market saw outflows.
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