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CME to introduce Euro-based mini Bitcoin and Ethereum futures

The Chicago Mercantile Exchange (CME) has recently announced the introduction of euro-denominated micro Bitcoin and Ether futures, scheduled for launch on March 18, pending regulatory approval.

This news follows the successful launch of U.S. dollar-denominated micro Bitcoin futures in May 2021 and micro Ether futures in December 2021 by CME.

In August 2022, CME also introduced regular euro-denominated Bitcoin and Ether futures contracts, in addition to options products for these popular cryptocurrencies.

Micro futures contracts offered by CME will be one-tenth the size of the underlying assets, providing a more accessible option for investors looking to gain exposure to Bitcoin (BTC) and Ether (ETH).

Giovanni Vicioso, CME Group Global Head of Cryptocurrency Products, stated, “Global investors are seeking more precise risk management tools as interest in bitcoin and ether continues to grow.” Vicioso pointed out a significant four-fold increase in volume for USD-denominated micro Bitcoin and micro Ether futures, indicating a rising demand for such derivative products.

The decision to introduce euro-denominated contracts reflects CME Group’s strategy to reach a wider international audience, with 24% of Bitcoin and Ether futures volume originating from the EMEA region. Vicioso emphasized the importance of developing additional tools for clients in the region to hedge their crypto portfolios and capitalize on potential market movements.

This move reinforces CME’s commitment to the crypto derivatives market since the launch of its first Bitcoin futures in December 2017. Recent data shows a strong interest in these products, with record-high open interest and trading volumes for bitcoin futures last month, alongside notable increases in ether futures activity.

Expanding on this development, the euro-denominated micro Bitcoin and Ether futures are designed to cater to a diverse set of investors, providing them with a cost-effective and efficient way to participate in these digital asset markets. The introduction of new currency pairs adds depth and flexibility to CME’s offerings, further enhancing the accessibility and liquidity of the crypto derivatives market.

As the popularity and adoption of cryptocurrencies continue to rise globally, the availability of diverse futures products in different currencies allows investors to tailor their strategies and risk management approaches to suit their specific needs and preferences. CME’s proactive approach to innovation in the crypto derivatives space reflects the growing importance of these products in the broader financial ecosystem.

With the launch of euro-denominated micro Bitcoin and Ether futures, CME is poised to further solidify its position as a leading player in the cryptocurrency derivatives market, providing market participants with a comprehensive suite of products to manage risk and gain exposure to the dynamic digital asset class.

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