CME Group, a leading derivatives marketplace, today announced its plans to expand further its cryptocurrency derivatives offering with the introduction of Bitcoin Euro and Ether Euro futures on Monday, August 29th, pending regulatory review.
Designed to match their U.S. dollar-denominated counterparts, Bitcoin Euro and Ether Euro futures contracts will be sized at five bitcoin and 50 ether per contract.
These new contracts will be cash-settled, based on the CME CF Bitcoin-Euro Reference Rate and CME CF Ether-Euro Reference Rate, which serve as once-a-day reference rates of the euro-denominated price of bitcoin and ether. These new futures contracts will be listed on and subject to the rules of CME.
“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
CME Group’s cryptocurrency product suite continues to provide consistent liquidity, volume, and open interest for clients seeking to hedge their risk or gain exposure to the asset class. Q2 was a record quarter of average daily open interest (106.2K contracts).
It was the second highest quarter ever in average daily volume (57.4K contracts) across all cryptocurrency products. In addition, Ether futures achieved a record average daily volume of 6.6K contracts in Q2, up more than 27% versus Q1.