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 evaluate.
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 brand new contracts are cash-settled, primarily based on the CME CF Bitcoin-Euro Reference Price and CME CF Ether-Euro Reference Price, which function once-a-day measures of the EUR-denominated value of BTC and ETH.
“Euro-denominated cryptocurrencies are the second highest traded fiat behind the U.S. greenback. 12 months-to-date, the EMEA area represents 28% of whole Bitcoin and Ether futures contracts traded, up greater than 5% versus 2021.”
– Tim McCourt, World Head of Fairness and FX Merchandise, CME Group
In Q2, CME Group’s cryptocurrency section noticed a document common every day open curiosity of 106.2K contracts. It was the second highest quarter ever in common every day quantity (57.4K contracts) throughout crypto merchandise. Likewise, Ether futures reached a document common every day quantity (6.6K contracts) in Q2, up 27% versus Q1.