CME Group launches euro-denominated microcurrency Bitcoin and Ethereum Next month futures trading caters to surging demand in the derivatives market.
Chicago-based trading company announced On Tuesday, the company announced that it would begin trading crypto futures in the European market due to the popularity of USD-denominated crypto futures.
Futures will go on sale on March 18, pending regulatory review.
CME Group is the world’s largest derivatives marketplace, comprised of four exchanges.
A futures is a type of contract that requires an investor to buy or sell an underlying asset at a predetermined price at a predetermined expiration date. “Micro futures” refer to fragments of the underlying asset. In this case, CME Group said it would be one-tenth the price of Bitcoin (BTC) or Ethereum (ETH), the two largest digital coins, whose current prices are $51,538 and $2,940, respectively.
Offering minimal fees and greater liquidity, such products have long been popular with traders as an alternative to spot crypto ETFs, at least before Bitcoin-based investment products became widely available in the US. there was.
“Year-to-date, 24% of CME Group’s Bitcoin and Ether futures trading volume has come from the Europe, Middle East and Africa region,” Giovanni Vicioso, CME Group’s global head of crypto products, said in a statement. “It has been done,” he said. “We continue to develop additional tools to help clients hedge their crypto portfolios and express or understand potential market movements.”
He added that CME Group’s USD-denominated group “has seen a four-fold increase in trading volumes.”
CME Group first launched BTC futures in December 2017. Since then, we have launched ETH futures and micro futures for both digital assets. His CME Group Executives in 2022 Said What the market appreciates the release Solana (SOL) and Cardano (ADA) Futures too.
Edited by Ryan Ozawa.
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