GCEX Options Launch Delivers Bitcoin and Ethereum OTC Contracts for Professional Clients

GCEX launched European-style options on Bitcoin and Ethereum on October 22, 2026, through its FCA-authorised UK entity GC Exchange Limited. The service targets hedge funds, asset managers, family offices and other professional clients that meet regulatory criteria. Trading occurs over the counter through the London desk with monthly expiries and fiat settlement.

Product Structure and Client Access

Clients request quotes directly from the OTC desk. Pricing comes from Tier 1 liquidity providers. Contracts are European style, exercisable only at expiry, and positions appear in the XplorPortal alongside existing digital asset and FX activity. Buyers face a maximum loss equal to the premium paid, while sellers carry additional risk. GCEX hedges every trade with external providers and does not take the opposite side of client positions.

Access remains limited to entities classified as professional clients under UK rules. Retail investors are excluded following the FCA’s 2021 prohibition on crypto derivatives for that segment. The offering removes the need for clients to onboard directly with exchanges while maintaining regulated reporting and settlement processes already in place at GCEX.

The platform reports valuations and settlements in the same portal used for spot and FX activity. No volume figures or client counts were disclosed at launch. GCEX will consider additional underlyings based on client demand.

GCEX Background and Market Context

GCEX operates as a digital prime broker headquartered in London with global offices. Spot trading and conversion services are handled by its MiCA-authorised Danish entity GC Exchange A/S. Earlier in 2026 the firm added tokenised gold in March and partnered with Cumberland for spot liquidity in April.

The new options service forms part of expanding institutional OTC crypto derivatives availability. Similar offerings from Kraken, FalconX and Hidden Road have appeared since mid-2025. GCEX founder and CEO Lars Holst stated that clients had requested a regulated method to manage digital asset exposure without separate exchange onboarding.

The contracts integrate with existing client workflows through the XplorDigital suite. Monthly expiries provide standardised dates, and all activity remains visible in one reporting interface. GCEX continues to review product expansions based on institutional feedback.

Operational and Regulatory Details

Every trade is hedged with external liquidity providers, keeping GCEX neutral to price direction. Settlements occur in fiat, removing the need for clients to handle cryptocurrency delivery. The service operates under the same FCA authorisation (FRN 828730) that covers the firm’s other digital asset and FX products.

Professional clients can request custom quotes for specific strikes and expiries. The structure suits hedging strategies that require defined risk parameters without exchange membership. GCEX has indicated it will monitor demand for further underlyings beyond Bitcoin and Ethereum.