Miami International Holdings, Inc. (MIH), a technology-driven leader in building and operating regulated financial markets across multiple asset classes,  announced the launch of Bitcoin Range Binary (BTCRB) Options on its MIAX Derivatives Exchange (MIAXdx™).

BTCRB Options are fully-collateralized, cash-settled binary options on Bitcoin (BTC) that expire each trading hour and are settled to the dxFeed Bitcoin Reference Index. BTCRB Options are offered on MIAXdx in $10 units with a minimum tick size of $0.01.

"We are pleased to launch the new BTCRB Options on MIAXdx to meet the rising demand for products that allow investors to manage risk exposure in the rapidly evolving cryptocurrency market," said Thomas P. Gallagher, Chairman and Chief Executive Officer of MIH. "MIAXdx has a history of providing innovative digital asset products and these new options offer both retail and institutional investors a powerful tool to manage short-term fluctuations in bitcoin prices."

The dxFeed Bitcoin Reference Index represents the price of BTC in USD, constructed using trade data from Bitstamp and Gemini during a ten-minute calculation window prior to each hourly expiration