GSR, a market making and algorithmic crypto assets trading company, has today released a new structured product called the Bitcoin Halo Option. Revealed at Consensus 2019 in New York, the largest and most reputable digital asset event in the world, this new product will allow investors to manage and limit some of the risks of their trades in a more comprehensive manner.
The GSR Bitcoin Halo is an option on the value of a trading account once the derivative reaches its maturation date. The holder of this derivative pays an initial premium to purchase the Bitcoin Halo Option, which begins the maturation period with a value of zero. Each trader is allowed to place 10 trades per day in the BTC/USD markets through GSR, until the derivative termination date is reached. At maturity, if there is any positive value remaining from the trades performed, then the trader collects this surplus. If there is a negative value, then the trader receives nothing at the end of the term.
“Unlike most traditional financial markets, trading in cryptocurrency is open 24/7 and positions require constant supervision. The GSR Bitcoin Halo Option is essentially a tool for active traders who want to protect against serious losses. At GSR, we’re excited to continue introducing innovative new products into the world of digital assets that are prevalent in the world of traditional finance. As the crypto markets continue to develop and attract more traders these types of products and services will be a necessity.”
This new innovation in the cryptocurrency space joins other new digital asset products released by GSR, like their Cryptocurrency Variance Swap. This new option is part of a suite of financial products that GSR is structuring to offer traders more protection against volatility in the crypto trading industry. The GSR Bitcoin Halo Option offers another way for active traders to manage their risk in a manner that is less time consuming, and more financially secure.
GSR was founded in 2013 by veterans from the traditional finance and tech worlds, and remains one of the most experienced companies in digital asset trading and market making. In the past six years, they have created one of the fastest and most robust trading systems that exist in the crypto industry. They have successfully traded and managed billions of dollars worth of digital assets through their unique software. Their team draws experience from Goldman Sachs, Two Sigma, and IBM, bringing world-class financial knowledge together under one crypto roof.
