Home Markets CME Group Pushes Crypto Further as Ethereum, Bitcoin Futures Now Available as Euro-Denominated Option

CME Group Pushes Crypto Further as Ethereum, Bitcoin Futures Now Available as Euro-Denominated Option

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CME Group Pushes Crypto Further as Ethereum, Bitcoin Futures Now Available as Euro-Denominated Option

Chicago Trade Exchange Group (CME) announced the launch of euro-denominated securities on Monday Bitcoin BTC/USD and Ethereum ETH/USD future.

Tim McCourtglobal head of equity and FX products at CME Group, said the new products are designed to provide institutional investors with another way to buy cryptocurrencies in a controlled environment.

“The continuing uncertainty in the cryptocurrency markets, along with the robust growth and deep liquidity of our existing Bitcoin and Ethereum futures contracts, is creating increased demand for risk management solutions by institutional investors outside of United States,” McCourt said. “Euro-denominated cryptocurrencies are the second most traded fiat behind the US dollar.”

In December 2017, CME Group launched its first Bitcoin futures contract. In February 2021, he introduced an Ethereum futures contract. The derivatives exchange added micro Bitcoin and Ethereum futures to its range of crypto investment products in 2022.

Read more: ‘Crypto Safe Haven’ Singapore Drafts New Rules That Would Make It More Difficult To Trade Bitcoin, Ethereum, Dogecoin

“Our new Bitcoin Euro and Ether Euro futures will provide institutional clients, inside and outside the United States, with more precise and regulated tools to trade and hedge exposure to the two largest cryptocurrencies. by market cap,” McCourt said Monday.

The press release stated that the Bitcoin Euro and Ether Euro futures contract sizes will be five Bitcoins and 50 Ethereum per contract, respectively. The CME CF Bitcoin-Euro Reference Rate and the CME CF Ether-Euro Reference Rate, which serve as the daily reference rates for the euro-denominated price of Bitcoin and Ethereum, will be used as the basis for cash-settled contracts. .

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