Euro-Denominated Bitcoin and Ethereum Futures to Be Launched by CME

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Alex Dovb­nya

CME Group is set to launch new cryp­tocur­ren­cy-linked prod­ucts amid grow­ing demand 

Chica­go-based CME Group is on track to launch euro-denom­i­nat­ed Bit­coin and Ethereum futures, accord­ing to a Thurs­day press release.  

They will be launched in late August, the company’s announce­ment says.

Tim McCourt, senior man­ag­ing direc­tor, glob­al head of equi­ty and FX prod­ucts at CME Group, claims that the Europe, Mid­dle East and Africa (EMEA) region rep­re­sents near­ly a third of the total trad­ing vol­ume for Bit­coin and Ether futures contracts.

McCourt claims that the cur­rent uncer­tain­ty cre­ates more demand for addi­tion­al risk man­age­ment solutions.

The world’s largest futures exchange embraced Bit­coin back in Decem­ber 2017. It has since emerged as a dom­i­nant force in the cryp­to mar­ket. Accord­ing to data pro­vid­ed by cryp­tocur­ren­cy ana­lyt­ics firm Coin­glass, CME is cur­rent­ly in fourth place by Bit­coin futures open inter­est (behind only Binance, OKex, and FTX). 

In Feb­ru­ary 2021, the world’s lead­ing deriv­a­tives mar­ket­place also launched Ether futures. Notably, this coin­cid­ed with the start of a major ral­ly for the sec­ond-biggest cryp­tocur­ren­cy con­trary to many expec­ta­tions with­in the indus­try. Short­ly after that, it launched micro-sized Bit­coin futures. 

In March, the Chica­go-based trad­ing plat­form launched micro-sized Bit­coin and Ether options.

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