$ 84,962.1
$ 1,904.10
$ 0.6764
$ 608.24
$ 126.22
Aug 30, 2022
CME Group Launches Euro-Denominated Bitcoin and Ether Futures
Table of contents
CME Group has introduced euro-denominated Bitcoin and Ether futures on its derivatives marketplace today. The business claimed in a statement on Monday that the new product, which has a contract size of five Bitcoin and fifty Ethereum, will accompany its dollar-denominated crypto counterparts.
"Designed to match their U.S. dollar-denominated counterparts, Bitcoin Euro and Ether Euro future contracts will be seized 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."
While derivatives rates have decreased along with the decline in crypto prices, trading in cryptocurrency derivatives on centralized exchanges increased by 13% last month compared to June, reaching more than $3 trillion. In July, the derivatives market accounted for 69% of all crypto volume, up from 66% in June.
Tim McCourt, global head of equity and FX products at CME Group, states that:
"The launch of these new futures contracts builds on the strong growth and deep liquidity we have seen in our existing U.S. dollar-denominated Bitcoin and Ether futures contracts."
Cryptocurrency Derivative Market is Massive
The market for cryptocurrency derivatives is massive: $174 billion in contracts were traded on exchanges in the last 24 hours. The statement demonstrates that there is still a lot of interest in the cryptocurrency sector, particularly given that Ethereum is soon to receive an update.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.
