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CME Group launches euro-denominated bitcoin and ether futures

Published on

December 30, 2022
Read Time:1 Minute, 38 Second

The Chicago Mercantile Change Group futures market has began buying and selling Bitcoin-euro and Ether-euro futures contracts.

In an announcement Monday, CME Group said that it launched contracts for euro-denominated bitcoin (BTC) and ether (ETH) futures with sizes of 5 BTC and 50 ETH per contract. Each contracts are listed on the CME, settled in money and based mostly on the CME CF Bitcoin Euro Reference Price and the CME CF Ether Euro Reference Price respectively.

“Our new Bitcoin-Euro and Ether-Euro futures will present institutional purchasers each inside and outdoors the US with extra correct and controlled instruments for buying and selling and hedging publicity to the highest two cryptocurrencies by market cap,” stated CME Group World Head of Fairness and FX Merchandise Tim McCourt.

First introduced on August 4, the euro-denominated ETH futures characterize funding automobiles launched forward of the merger that can see the Ethereum blockchain transfer to proof-of-stake - anticipated between August 10 and 20. September. Cointelegraph reported that international locations in Europe, the Center East and Africa accounted for 28% of all BTC and ETH futures contract buying and selling.

Associated: CME Group plans to launch choices on ETH futures earlier than the merger

CME Group launched its first BTC futures contract in December 2017, adopted by an ETH futures contract in February 2021. In 2022, the futures alternate added micro-BTC and ETH futures to its providing of crypto funding automobiles. The launch of euro-denominated BTC and ETH futures got here because the euro remained flat towards the US greenback – on the time of publication, 1 euro is price roughly $1.

In keeping with knowledge from Cointelegraph Markets Professional, ETH is priced at $1,509 on the time of publication, having surged greater than 3% prior to now 24 hours. BTC value fell beneath $20,000 on Sunday to hit a 20-month low however has since surged 2% to $20,342.

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Azeez Mustafa
Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager – as well as an author.
Last Updated : December 30, 2022
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