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The world’s leading financial derivatives platform, the Chicago Mercantile Exchange (CME) Group, has revealed its intention to bring bitcoin and ether futures to the euro later in August

The company already has a long history in the cryptocurrency industry. A few months ago, it launched micro-options on bitcoin and ethereum futures, justifying the surge in investor demand for such services.

CME Group dives deeper

The U.S.-based company has doubled down on its digital assets despite tough conditions in the cryptocurrency Announce Launch of euro-denominated bitcoin and ether futures, which will be available to customers at the end of the month.

CME explained that the contract sizes will be 5 BTC and 50 ETH per contract. The new feature will be cash-settled based on the CME CF Bitcoin-Euro Reference Rate and the CME CF Ether-Euro Reference Rate. The entity guarantees that they will abide by the established rules.

Tim McCourt, global head of equities and foreign exchange products at CME Group, believes that the current state of the crypto industry has increased client interest in such products:

“Continued uncertainty in the cryptocurrency market, coupled with strong growth and deep liquidity in our existing bitcoin and ether futures, is increasing demand for risk management solutions from institutional investors outside the U.S.

Our Bitcoin EUR and Ether EUR futures contracts will provide clients with more precise tools to trade and hedge their exposure to the two largest cryptocurrencies by market capitalization. “

The executive added that the euro-denominated digital asset is the second most traded fiat currency after the U.S. dollar.

“YTD, the EMEA region accounted for 28% of total bitcoin and ethereum futures contract volume, an increase of more than 5% compared to 2021,” he noted.

The derivatives market giant allows users to trade futures, options, cash and over-the-counter markets. It also supports a wide range of products across major asset classes including crypto. The second quarter of 2022 was a very successful period for CME Group, as Ether futures reached a record average daily volume of 66,000 contracts (up 27% from the first quarter).

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CME Group joined the digital asset bandwagon in 2017 with the release of a Bitcoin futures contract. In March 2022, CME Group launched micro-options on Bitcoin and Ethereum futures. At the time, Tim McCourt commented:

“The launch of these micro options builds on the significant growth and liquidity we have seen in micro bitcoin and micro ether futures. These contracts will be traded for a wide range of market participants – from institutions to sophisticated, active individuals Providers – providing greater flexibility and precision to manage their exposure to the top two cryptocurrencies by market capitalization.”

Futures contracts allow investors to gain exposure to digital currencies without having to buy them and worry about storing their assets. These products require consumers to sell on specific dates.

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