Chicago Mercantile Exchange (CME), has announced that it will be offering Ether and Bitcoin futures in euro-denominated Bitcoin on its marketplace.
CME Group has released a press release stating that Bitcoin and Ether Euro futures would each be sized at 50 Ether and 5 Bitcoin respectively. CME Group’s euro reference rate will determine the currency at which contracts are cash-settled. They won’t trade in actual Bitcoin or Ethereum.
“Our new Bitcoin Euro and Ether Euro options will provide institutional clients, inside and outside the U.S. with more precise and regulated instruments to trade and hedge exposure, to the two largest cryptocurrency market caps,” stated Tim McCourt from CME Group, Global Head of Equity and FX Products.
CME Group is the largest global derivatives market. For multiple years, it has allowed U.S. dollar-denominated Bitcoin futures and Ether futures. The Securities and Exchange Commission approved the launch of the first Bitcoin futures ETF in October 2013. This was due to the market manipulation protection Bitcoin futures enjoy at the CME. However, the closest products to the ETF are the Bitcoin trust funds offered by Grayscale and Blackrock.
CryptoPotato’s first article was entitled CME Group Launches Euro-Denominated Bitcoin Futures and Ether Futures
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