NewsletterBitcoin and Ether Euro Futures Ready to Roll Out at CME
Highlights
- CME is set to roll out Euro Bitcoin & Ether futures on March 18.
- Euro futures aim to broaden crypto hedging options.
- Trading surge in CME's crypto products hits record highs.
The Chicago Mercantile Exchange (CME) has revealed that it plans to launch Euro-denominated micro Bitcoin and Ether futures contracts, due to commence on March 18, upon regulatory approval. This development is a significant expansion of CME’s cryptocurrency derivatives suite after successfully launching its U.S. dollar-denominated micro futures for these dominant digital assets.
Bitcoin and Ether Futures
Euro-denominated contracts scheduled to be launched soon shall be introduced to service the need for Bitcoin and Ether exposure while being cost-effective. The size of each microcontract will be one-tenth of the coin involved in the corresponding cryptocurrency, thus representing the pattern of their U.S. dollar equivalents.
The move is a reaction to the growing demand for advanced tools by worldwide investors to manage the risks of investments in cryptocurrencies.
Giovanni Vicioso, CME Group’s Global Head of Cryptocurrency Products, pointed out the quadrupled volume in USD-denominated micro Bitcoin and Ether futures, reflecting growing demand for these digital assets. The emergence of Euro futures will provide clients with other investment instruments to hedge their Bitcoin and Ether positions properly, especially in Europe, where considerable trading activity is beginning.
A Strategic Move Amid Growing Interest
The launch of the Euro-denominated future is made in significant growth in the crypto futures market, which is mainly USD-contract based. The CME’s move is anticipated to bring an extra level of versatility to investors who wish to hedge their cryptocurrency exposure in the context of the Euro, the second most traded fiat currency.
This achievement is striking, considering that the CME was among the first to create a crypto derivatives market. Since introducing Bitcoin futures in December 2017, the exchange has been ranked as one of the leading locations for trading cryptocurrency derivatives. Euro futures market entry is expected to add firmer shape to CME’s standing in this challenging area.
Trading Activity Record Signals Strong Interest.
The months have witnessed substantial growth in the trading volume of the CME’s cryptocurrency products. The open interest in Bitcoin futures peaked, and the trading volumes reached an all-time high. Similarly, open interest and trading volume in Ether futures have increased but are still below the highest value recorded in November 2021.
Micro Bitcoin and Ether Euro futures are anticipated to leverage off this uptrend, allowing traders a multitude of opportunities to participate in the crypto market. With the help of contracts, which are a fraction of the size of the real cryptocurrencies, CME seeks to make cryptocurrency derivatives trading more available to numerous investors.
Moreover, the move to introduce Euro futures also coincides with the overall direction of the crypto market, which sees a rising demand for Bitcoin and Ether exchange-traded funds (ETFs). These ETFs have attracted significant attention from investors, further underscoring the need for diverse derivative products like the Euro futures.
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