CME Group Launches Euro-Denominated Bitcoin and Ether Futures

The Chicago Mercantile Exchange (CME) has announced the launch of euro-denominated Bitcoin and Ether futures in its marketplace.

According to a press release from CME Group, Bitcoin and Ether Euro futures will each be sized at 5 Bitcoin and 50 Ether per contract. 
Contracts will be cash-settled, based on the CME’s euro reference rate for each cryptocurrency. That means that they won’t deal in the exchange of actual Bitcoin or Ethereum. 

“Our new Bitcoin Euro and Ether Euro futures will provide institutional clients, both within and outside the U.S., with more precise and regulated tools to trade and hedge exposure to the two largest cryptocurrencies by market cap,” said Tim McCourt, Global Head of Equity and FX Products at CME Group.

CME Group is the world’s largest derivatives marketplace. It has already allowed for U.S. dollar-denominated Bitcoin and Ether futures for multiple years. 
In October of last year, the Securities and Exchange Commission permitted the first Bitcoin futures ETF to launch, due to the market manipulation protection Bitcoin futures have at the CME.
However, the commission is yet to approve a Bitcoin spot ETF, with the closest products being Bitcoin trust funds provided by Grayscale and Blackrock

The post CME Group Launches Euro-Denominated Bitcoin and Ether Futures appeared first on CryptoPotato.

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