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.
Source: https://u.today/euro-denominated-bitcoin-and-ethereum-futures-to-be-launched-by-cme