CME Group’s Euro-denominated Bitcoin and Ether futures trading goes live

1 month ago
2 mins read

Leading global derivatives marketplace CME Group-backed Euro-pegged Bitcoin (BTC) and Ethereum (ETH) futures will start trading today, Monday, August 29. 

In a statement published on August 28, CME noted that futures would enable global institutional investors to get exposure to digital assets while hedging exposure.

According to CME, the Bitcoin Euro construct will be scaled at 5 BTC while Ether Euro has been sized at 50 Ether per contract. Investors can settle the contracts in cash guided by the CME CF Bitcoin-Euro Reference Rate and CME CF Ether-Euro Reference Rate.

Tim McCourt, Global Head of Equity and FX Products, CME Group, stated:

“The launch of these new futures contracts builds on the strong growth and deep liquidity we have seen in our existing U.S. dollar-denominated Bitcoin and Ether futures contracts.”

He added: 

“Our new Bitcoin Euro and Ether Euro futures will provide institutional clients, both within and outside the U.S., with more precise and regulated tools to trade and hedge exposure to the two largest cryptocurrencies by market cap,” said 

Demand for non-USD cryptocurrency derivatives

The trading comes barely a month after the platform announced plans to roll out the product amid increased global demand for regulated and robust non-USD cryptocurrency derivatives. 

Notably, the demand follows the need by clients to hedge their risk and acquire exposure to the crypto asset class while enjoying continuous liquidity, volume, and open interest. 

Previously, during 2022 Q2, CME Group recorded the highest average daily open interest at 106,200 contracts and was the second highest quarter ever in terms of average daily volume at 57,400 contracts across all cryptocurrency products. 

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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Justinas Baltrusaitis

Justin crafts insightful data-driven stories on finance, banking, and digital assets. His reports were cited by many influential outlets globally like Forbes, Financial Times, CNBC, Bloomberg, Business Insider, Nasdaq.com, Investing.com, Reuters, among others.