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

CME Group, the world’s main derivatives market, right this moment introduced it plans to additional broaden its cryptocurrency derivatives providing with the addition of Micro Bitcoin Euro and Micro Ether Euro futures on March 18, pending regulatory assessment.

“World traders have sought extra exact instruments to handle their danger as curiosity for bitcoin and ether grows. As such, we’ve seen a four-fold improve in quantity in our USD-denominated Micro Bitcoin and Micro Ether futures,” stated Giovanni Vicioso, World Head of Cryptocurrency Merchandise at CME Group. “The launch of those new Micro Euro-denominated contracts will present shoppers with extra merchandise to extra effectively hedge bitcoin and ether publicity within the second-highest traded fiat behind U.S. dollar-based contracts. Yr-to-date, 24% of Bitcoin and Ether futures quantity at CME Group has been transacted from the EMEA area, and we proceed to develop extra instruments for shoppers there to hedge their crypto portfolios and specific or take a view on potential market strikes.”

Designed to match their U.S. dollar-denominated counterparts, Micro Bitcoin Euro and Micro Ether Euro futures contracts might be sized at one-tenth of their respective underlying cryptocurrencies. These new futures contracts might be listed on and topic to the principles of CME.

“TP ICAP will help this market-defining crypto spinoff from CME Group by offering block facilitation providers to this product. Our international Digital Belongings enterprise has been offering worth discovery and execution providers on CME Group’s (NASDAQ:) suite of crypto derivatives for the reason that begin of 2020, leveraging TP ICAP’s strengths in connecting market members as the muse for our Digital Belongings proposition,” stated Sam Newman, Digital Belongings Head of Broking at TP ICAP. “Curiosity in crypto derivatives has seen enormous worldwide progress lately and these new euro-denominated micro futures contracts will assist additional broaden the accessibility and utility of crypto derivatives, significantly inside Europe.”

CME Group’s Cryptocurrency product suite continues to offer constant liquidity, quantity, and open curiosity for shoppers looking for to hedge their danger or acquire publicity to the asset class. January was a file month when it comes to common each day quantity (71K contracts) throughout all Cryptocurrency merchandise. As well as, common each day open curiosity for Bitcoin and Ether futures reached all-time highs for the month (23.5K contracts and 6K contracts, respectively). Micro Bitcoin and Micro Ether futures additionally noticed a buying and selling surge, with common each day volumes rising 43% versus December 2023.