CME Launches Bitcoin and Ether Futures Trading in Euros
Chicago Mercantile Exchange Group (CME) derivatives exchange has officially launched Bitcoin and Ether futures trading in Euros.
In yesterday's announcement, CME Group said it has launched Bitcoin (BTC) and Ether (ETH) futures contracts denominated in euros with the size of 5 BTC and 50 ETH each. Both contracts will be listed on CME, settled in cash and based on the CME CF Bitcoin-Euro and CME CF Ether-Euro reference rates respectively.
Tim McCourt, Head of Alternative Investment Products at CME, “Our new Bitcoin Euro and Ether Euro futures trading will provide institutional clients, both within and outside the US, with more precise and regulated trading tools and hedging for the two largest cryptocurrencies by market capitalization.”
First announced on August 4, euro-traded ETH futures contracts representing investment vehicles launched ahead of The Merge, a major milestone for the Ethereum blockchain has been scheduled. activated in just a few days. Mr. Tim emphasized that they have observed an increase in trading volume and open interest for ETH futures contracts, therefore CME wants to provide more options for its customers.
CME is considered a gateway for large institutions in the United States to enter and gain exposure to the crypto market. CME launched its first BTC futures contract in December 2017 and ETH futures contract in February 2021. Towards the beginning of this year, the exchange expanded to offer Micro BTC and Micro ETH contracts.
At press time, ETH price is hovering around the $1,529 mark, up more than 3% in the past 24 hours. BTC price plunged to $20,000 three days ago, hitting a 20-month low, but is up 2% and is currently trading around $20,161, according to CoinMarketCap.
Crypto Fox News Summary
Aug 29, 2022
