BTC and ETC futures in Euro are launched by CME soon
CMEAn exchange specializing in derivatives, announced the launch on August 29 Euro futures on Bitcoin And Ethereum. Volatility and uncertainty drive demand for these financial products.
While the current uncertainty and volatility in the cryptocurrency market are risk factors, they can also promote financial opportunities for investors, especially institutions.
It is precisely to fulfill the expectations of these clients CME-Group Announcing its upcoming launch new futureFutures, backed by crypto-assets.
Bitcoin Euro and Ether Euro Futures
CME, which bills itself as the world’s leading derivatives marketplace, plans to launch Bitcoin and Ethereum products are denominated in euros From August 29: Future Bitcoin Euro And Ether euro.
This future contract, subject to approval by European regulators, will The current dollar equivalent of the contract is the euro. Each contract size will be 5 Bitcoins and 50 Ether.
For CME, that means responding Demand from institutions outside the United States. “Since the beginning of the year, EMEA region Represents 28% of total BTC and ETH futures trade, up 5% from 2021,” the exchange said.
The euro-denominated cryptocurrency is the second most traded fiat behind the US dollar,” said Tim McCourt, global head of equity and FX products at CME Group.
Conquering Derivatives in Europe
To launch these contracts in Euro, American Derivatives Exchange works with TP ICAP for B2C2 and Brokerage in the OTC component. The latter has been CME’s partner since 2020 in the London, Hong Kong and Singapore markets.
Interest in crypto-assets has grown tremendously, and these new euro-denominated futures will help expand the accessibility and utility of crypto-asset derivatives, particularly in Europe,” said Sam Newman, Head of Digital Asset Brokerage.
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