The global derivatives marketplace CME Group plans
to expand its cryptocurrency derivatives suite with Bitcoin and ether futures.
Dubbed Micro Bitcoin Euro and Micro Ether Euro futures, the products will be
launched on March 18, pending regulatory approval.
Giovanni Vicioso, the Global Head of Cryptocurrency
Products at CME Group, mentioned: “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 US 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.”
Available March 18*, CME Group is introducing a second currency pair on our Micro Bitcoin and Micro Ether futures, Euro-denominated Bitcoin and Ether futures contracts.
*Pending regulatory review https://t.co/juxh2N2wDr
— CME Group (@CMEGroup) February 20, 2024
According to the press release, adding
Euro-denominated contracts offers investors more efficient avenues for
hedging exposure to the top cryptocurrencies . Micro Bitcoin Euro and Micro Ether Euro futures will mirror their USD-denominated counterparts. These futures will be
listed on CME Group, providing clients with standardized contracts to manage their
crypto portfolios.
During the second quarter of 2023, there was a
significant surge in institutional investments in Bitcoin and ether futures,
influenced by the escalating value of crypto assets and the surge in
applications for spot Bitcoin ETFs. According to a report by Finance Magnates, CME Group reported a notable growth in the number of institutional investors holding
Bitcoin and ether futures contracts.
Bitcoin and Ether Futures Market
The CME Group reported that an average of 107
institutional investors held at least 25 Bitcoin futures contracts, while 62
held ether futures contracts during the same period. This surge in interest
highlighted the growing acceptance of crypto derivatives as legitimate
investment tools.
The rise in institutional investments paralleled the
upward trajectory of Bitcoin and ether prices. Bitcoin witnessed a surge of 84% in the first half of last year.
Open interest in standard Bitcoin futures contracts
also surged by 15% year-over-year, indicating a robust market demand for
Bitcoin exposure. The rising interest among institutional clients was partly
attributed to the applications for spot Bitcoin ETFs in the US.
The global derivatives marketplace CME Group plans
to expand its cryptocurrency derivatives suite with Bitcoin and ether futures.
Dubbed Micro Bitcoin Euro and Micro Ether Euro futures, the products will be
launched on March 18, pending regulatory approval.
Giovanni Vicioso, the Global Head of Cryptocurrency
Products at CME Group, mentioned: “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 US 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.”
Available March 18*, CME Group is introducing a second currency pair on our Micro Bitcoin and Micro Ether futures, Euro-denominated Bitcoin and Ether futures contracts.
*Pending regulatory review https://t.co/juxh2N2wDr
— CME Group (@CMEGroup) February 20, 2024
According to the press release, adding
Euro-denominated contracts offers investors more efficient avenues for
hedging exposure to the top cryptocurrencies . Micro Bitcoin Euro and Micro Ether Euro futures will mirror their USD-denominated counterparts. These futures will be
listed on CME Group, providing clients with standardized contracts to manage their
crypto portfolios.
During the second quarter of 2023, there was a
significant surge in institutional investments in Bitcoin and ether futures,
influenced by the escalating value of crypto assets and the surge in
applications for spot Bitcoin ETFs. According to a report by Finance Magnates, CME Group reported a notable growth in the number of institutional investors holding
Bitcoin and ether futures contracts.
Bitcoin and Ether Futures Market
The CME Group reported that an average of 107
institutional investors held at least 25 Bitcoin futures contracts, while 62
held ether futures contracts during the same period. This surge in interest
highlighted the growing acceptance of crypto derivatives as legitimate
investment tools.
The rise in institutional investments paralleled the
upward trajectory of Bitcoin and ether prices. Bitcoin witnessed a surge of 84% in the first half of last year.
Open interest in standard Bitcoin futures contracts
also surged by 15% year-over-year, indicating a robust market demand for
Bitcoin exposure. The rising interest among institutional clients was partly
attributed to the applications for spot Bitcoin ETFs in the US.
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- Source: https://www.financemagnates.com//cryptocurrency/cme-group-dives-into-euro-denominated-bitcoin-and-ether-futures-market/
