CME Group, a number one derivatives market, as we speak introduced its plans to broaden additional its cryptocurrency derivatives providing with the introduction of Bitcoin and Ether futures denominated in EUR on Monday, August twenty ninth, pending regulatory assessment.
Designed to match their U.S. dollar-denominated counterparts, Bitcoin Euro and Ether Euro futures contracts shall 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 worth 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 complete 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 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.