CME Group Inc. revealed on Tuesday in a press release that its new financially settled options on Bitcoin Friday futures are now available for trading.

The company revealed that the first trade happened on Sunday, being executed between Cumberland DRW and Galaxy and cleared by Marex. "We are pleased to see such early and strong support for these new options products. These smaller sized, cash-settled contracts, with expiries available every day of the business week, will provide traders with even greater precision to manage short-term bitcoin price risk," CME's Global Head of Cryptocurrency Products Giovanni Vicioso commented.

The new options provide additional risk management flexibility to CME's customers, the business said.