This paper conducts a first look into the regulated Bitcoin options market in the United States. Compared to stock … options, bitcoin options tend to be ten times more illiquid as measured by bid-ask spreads. The illiquidity significantly … affects bitcoin options pricing: Given that investors are on average net sellers of bitcoin options, heightened illiquidity is …

This paper conducts a first look into the regulated Bitcoin options market in the United States. Compared to stock … options, bitcoin options tend to be ten times more illiquid as measured by bid-ask spreads. The illiquidity significantly … affects bitcoin options pricing: Given that investors are on average net sellers of bitcoin options, heightened illiquidity is …

This paper conducts a first look into the regulated Bitcoin options market in the United States. We find bitcoin … affects bitcoin options pricing: Given that investors are on average net sellers of bitcoin options, heightened illiquidity is … orders. We further confirm the findings by exploiting a policy change that allows retail participation in the Bitcoin options …

This paper conducts a first look into the regulated Bitcoin options market in the United States. Compared to stock … options, bitcoin options tend to be ten times more illiquid as measured by bid-ask spreads. The illiquidity significantly … affects bitcoin options pricing: Given that investors are on average net sellers of bitcoin options, heightened illiquidity is …

are applied to Bitcoin and the Cryptocurrency Index (CRIX). The first model is symmetric and the other takes asymmetric … effects into account. Furthermore, the accuracy of the GARCH option pricing model applied to Bitcoin is tested. Empirical … results indicate that asymmetry is not an important factor to consider when pricing options on Bitcoin or CRIX, this is …