CME Group plans to launch euro-denominated Bitcoin and Ether futures

Futures Options, set to begin trading on August 29, followed CME Group's launch of Bitcoin Options and micro-sized Ether in March.< /p> New

The Chicago Mercantile Exchange Group, the leading derivatives exchange, aims to launch trading in euro Bitcoin and euro Ether futures from August 29.

In an announcement on Thursday, CME Group said that, subject to regulatory review, it plans to launch euro-denominated Bitcoin (BTC) and Ether (ETH) futures contracts that will be sized at 5 BTC and 50 ETH per contract. Both contracts will be listed on CME, settled in cash and based on the CME CF Bitcoin-Euro benchmark rate and the CME CF Ether-Euro benchmark rate.

"Continued uncertainty in the cryptocurrency markets, along with robust growth and deep liquidity in our existing Bitcoin and Ether futures contracts, is creating increased demand for risk management solutions from institutional investors in outside of the United States," said CME Group's global head of equity and equities. Tim McCourt FX Products. “Euro-denominated cryptocurrencies are the second most traded fiat behind the US dollar.”

Introducing Bitcoin Euro and Ether Euro futures, a second currency pair on our market-leading cryptocurrency futures. Manage bitcoin and ether exposure in the underlying currency of your choice starting August 29. https://t.co/PfN3hTCvWC pic.twitter.com/rci4NnAfKz

According to McCourt, countries in Europe, the Middle East and Africa accounted for 28% of all BTC and ETH futures transactions. The listing announcement also followed the euro reaching parity with the US dollar in July for the first time in 20 years - at press time...