CME Group Launches Euro-Denominated Bitcoin and Ether Futures

The Chicago Mercantile Trade (CME) has introduced the launch of euro-denominated Bitcoin and Ether futures in its market.

  • Based on a press launch from CME Group, Bitcoin and Ether Euro futures will every be sized at 5 Bitcoin and 50 Ether per contract. 
  • Contracts can be cash-settled, based mostly on the CME’s euro reference price for every cryptocurrency. That signifies that they gained’t deal within the alternate of precise Bitcoin or Ethereum. 
  • “Our new Bitcoin Euro and Ether Euro futures will present institutional shoppers, each inside and outdoors the U.S., with extra exact and controlled instruments to commerce and hedge publicity to the 2 largest cryptocurrencies by market cap,” stated Tim McCourt, International Head of Fairness and FX Merchandise at CME Group.

  • CME Group is the world’s largest derivatives market. It has already allowed for U.S. dollar-denominated Bitcoin and Ether futures for a number of years. 
  • In October of final 12 months, the Securities and Trade Fee permitted the primary Bitcoin futures ETF to launch, because of the market manipulation safety Bitcoin futures have on the CME.
  • Nonetheless, the fee is but to approve a Bitcoin spot ETF, with the closest merchandise being Bitcoin belief funds supplied by Grayscale and Blackrock

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