CME Group, a number one derivatives market, immediately introduced its plans to develop additional its cryptocurrency derivatives providing with the introduction of Bitcoin and Ether futures denominated in EUR on Monday, August twenty ninth, pending regulatory evaluation.
Designed to match their U.S. dollar-denominated counterparts, Bitcoin Euro and Ether Euro futures contracts will probably be sized at 5 bitcoin and 50 ether per contract.
The new contracts are cash-settled, based mostly on the CME CF Bitcoin-Euro Reference Rate and CME CF Ether-Euro Reference Rate, which function once-a-day measures of the EUR-denominated price of BTC and ETH.
“Euro-denominated cryptocurrencies are the second highest traded fiat behind the U.S. dollar. Year-to-date, the EMEA region represents 28% of total Bitcoin and Ether futures contracts traded, up more than 5% versus 2021.”
– Tim McCourt, Global Head of Equity and FX Products, CME Group
In Q2, CME Group’s cryptocurrency section noticed a file common each day open curiosity of 106.2K contracts. It was the second highest quarter ever in common each day quantity (57.4K contracts) throughout crypto merchandise. Likewise, Ether futures reached a file common each day quantity (6.6K contracts) in Q2, up 27% versus Q1.