Cryptocurrency derivatives exchange BIT on Thursday introduced options tied to toncoin (TON), the native token of the decentralized layer 1 blockchain The Open Network, formerly known as Telegram Open Network.

The options are live on the platform today and will be available on the institution-focused liquidity network Paradigm later, the exchange said in a statement shared with CoinDesk.

The offering adds to BIT's existing product suite of futures and options tied to crypto market leaders bitcoin and ether. The move suggests growing investor interest in derivatives tied to alternative cryptocurrencies, or altcoins. While the crypto derivatives market has exploded in size over the past three years, growth has been mainly driven by demand for bitcoin and ether derivatives.