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      CME Group to Launch Micro Euro-denominated Bitcoin and Ether Futures on March 18

      Published: just now

      CME Bitcoin Ether

      February 20, 2024 - CME Group is set to expand its suite of cryptocurrency derivatives by introducing Micro Bitcoin Euro and Micro Ether Euro futures on March 18, subject to regulatory approvals.

       

      Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group, stated, "Global investors have sought more precise tools to manage their risk as interest for bitcoin and ether grows. As such, we have seen a four-fold increase in volume in our USD-denominated Micro Bitcoin and Micro Ether futures. The launch of these new Micro Euro-denominated contracts will provide clients with additional products to more efficiently hedge bitcoin and ether exposure in the second-highest traded fiat behind U.S. dollar-based contracts. Year-to-date, 24% of Bitcoin and Ether futures volume at CME Group has been transacted from the EMEA region, and we continue to develop additional tools for clients there to hedge their crypto portfolios and express or take a view on potential market moves."

       

      Mirroring the structure of their U.S. dollar counterparts, the forthcoming Micro Bitcoin Euro and Micro Ether Euro futures contracts will each be valued at one-tenth of the respective cryptocurrency. Adhering to CME’s standards, these contracts will be listed in accordance with the marketplace's rules.

       

      Sam Newman, Digital Assets Head of Broking at TP ICAP, commented on the integration of their services with CME Group's new offering: "TP ICAP will support this market-defining crypto derivative from CME Group by providing block facilitation services to this product. Our global Digital Assets business has been providing price discovery and execution services on CME Group's suite of crypto derivatives since the start of 2020, leveraging TP ICAP's strengths in connecting market participants as the foundation for our Digital Assets proposition. Interest in crypto derivatives has seen huge worldwide growth in recent years and these new euro-denominated micro futures contracts will help further expand the accessibility and utility of crypto derivatives, particularly within Europe."

       

      CME Group maintains a consistent track record of liquidity and interest in its Cryptocurrency products, with clients looking to mitigate risk or enhance their exposure to digital assets. This January, CME Group witnessed a surge in average daily volume across all Cryptocurrency products, accompanied by record-high average daily open interest for Bitcoin and Ether futures.

       

      For detailed information on these upcoming products, interested parties are encouraged to visit CME Group's website at www.cmegroup.com/microeuro. 

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      This content may have been written by a third party. LiquidityFinder makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplies by any third-party. This content is information only, and does not constitute financial, investment or other advice on which you can rely.
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