UK Crypto Broker GCEX Starts Offering Bitcoin and Ether Options to Professional Clients

Crypto prime broker GCEX began offering Bitcoin and Ether options to professional and institutional clients today (Thursday). The contracts trade over the counter with its UK arm, GC Exchange Limited, which is authorized by the Financial Conduct Authority (FCA). Hedge funds, asset managers and family offices that qualify as professional clients can request prices from the GCEX trading desk, the company said. Retail investors are shut out, because the FCA has barred the sale of crypto derivatives to them since January 2021. GCEX is pitching the product to clients who do not want an exchange account.