- CME says there’s rising demand for non-USD denominated crypto derivatives merchandise.
- The corporate additionally plans to launch choices on Ethereum futures on 12 September.
Derivatives market CME Group has introduced its Euro-denominated Bitcoin (BTC) and Ether (ETH) futures contracts at the moment are stay.
On Monday, August 29, 2022, the corporate formally unveiled two euro-denominated crypto futures contracts, noting that the merchandise “will probably be listed on and topic to the principles of CME.”
Now stay: euro-denominated Bitcoin and Ether futures. Effectively handle bitcoin and ether publicity within the underlying forex of your selection. https://t.co/Mxfk4ajee9 pic.twitter.com/A5BZ53RAYL
— CME Group (@CMEGroup) August 29, 2022
Bitcoin Euro and Ether Euro futures contracts
As announced earlier this month, Bitcoin Euro will probably be sized at 5 BTC and the Ether Euro contract at 50 ether. The contracts are money settled, and will probably be primarily based on the CME CF Bitcoin-Euro Reference Charge in addition to the CME CF Ether-Euro Reference Charge, the corporate famous within the announcement.
“Our new Bitcoin Euro and Ether Euro futures will present institutional purchasers, each inside and outdoors the US, with extra exact and controlled instruments to commerce and hedge publicity to the 2 largest cryptocurrencies by market cap” mentioned Tim McCourt, the World Head of Fairness and FX Merchandise at CME Group.
He famous that the 2 contracts’ providing comes after a powerful displaying, each by way of total development and liquidity, for the derivatives large’s US dollar-denominated bitcoin and ether contracts.
CME Group is unveiling these futures merchandise because the crypto market navigates a crypto winter that has decimated crypto costs. Nevertheless, demand for correctly regulated non-USD crypto derivatives stays excessive.
The supplier additionally plans to launch an choices contract on Ether (ETH) futures. The contract, sized at 50 ether, will probably be rolled out on 12 September, with this being topic to regulatory evaluate.