CME Group, a number one derivatives market, immediately introduced its plans to increase additional its cryptocurrency derivatives providing with the introduction of Bitcoin Euro and Ether Euro futures on Monday, August 29th, pending regulatory overview.
Designed to match their U.S. dollar-denominated counterparts, Bitcoin Euro and Ether Euro futures contracts will likely be sized at 5 bitcoin and 50 ether per contract.
These new contracts will likely be cash-settled, primarily based on the CME CF Bitcoin-Euro Reference Fee and CME CF Ether-Euro Reference Fee, which function once-a-day reference charges of the euro-denominated value of bitcoin and ether. These new futures contracts will likely be listed on and topic to the foundations of CME.
“Euro-denominated cryptocurrencies are the second highest traded fiat behind the U.S. greenback. Yr-to-date, the EMEA area represents 28% of complete Bitcoin and Ether futures contracts traded, up greater than 5% versus 2021.”
– Tim McCourt, World Head of Fairness and FX Merchandise, CME Group
CME Group’s cryptocurrency product suite continues to offer constant liquidity, quantity, and open curiosity for purchasers in search of to hedge their danger or achieve publicity to the asset class. Q2 was a report quarter of common day by day open curiosity (106.2K contracts).
It was the second highest quarter ever in common day by day quantity (57.4K contracts) throughout all cryptocurrency merchandise. As well as, Ether futures achieved a report common day by day quantity of 6.6K contracts in Q2, up greater than 27% versus Q1.