Algorithmic digital assets trading and market making company GSR has announced it is launching Bitcoin Halo Option, the latest financial product in the booming derivatives market for crypto.

In order to take advantage of the new solution, the user needs to pay a premium upfront to buy a Bitcoin Halo Option. Then, after the trading starts with a value of zero, they can make up to 10 trades per day in bitcoin or U.S. dollars. Upon reaching maturity date, the trader received the payout if the trading account has a positive value. However, if they end up noting losses, they don’t lose their original investment.

According to the Medium post, “this is analogous to an insurance policy on the trading account where the holder enjoys all the profits of the strategy at maturity, but should there be losses then no further cashflow takes place.”

GSR's team includes veterans of Goldman Sachs, Two Sigma, Nomura International, Oracle, Circle and IBM across trading, quantitative investments, and trading technology.

GSR's new product launches in the midst of boom in crypto derivatives products. Elsewhere, CoinFlex has launched a market for physically-delivered futures for crypto and Binance, the largest exchange in the market, is looking to roll-out its own derivatives platform. Derivatives offer a way for investors to hedge their underlying positions and speculate on an asset's future price.