<img src="https://crypto.news/app/uploads/2023/07/crypto-news-bitcoin-and-ethereum-blurry-hologram-nft-blackground-bright-neon-colors-%D1%81yberpunk-styl-v5.2.jpg” />
The Chicago Mercantile Exchange (CME) announced the upcoming launch of euro-denominated micro bitcoin and Ether futures, scheduled for March 18, pending regulatory authorization.
This follows the successful launch of US dollar-denominated micro bitcoin futures in May 2021 and micro Ether futures in December 2021.
CME had previously introduced regular euro-denominated bitcoin and Ether futures contracts in August 2022, along with options products for these cryptocurrencies.
Microfutures The contracts will be one-tenth the size of their respective underlying assets. This provides a more accessible option for investors seeking exposure to bitcoin (btc) and Ether (eth).
“Global investors have sought more precise tools to manage their risk as interest in bitcoin and ether grows,” said Giovanni Vicioso, global head of cryptocurrency products at CME Group.
Vicioso highlighted a four-fold increase in the volume of dollar-denominated micro bitcoin and micro Ether futures, underscoring the growing demand for such products.
The decision to offer euro-denominated contracts comes as CME Group seeks to serve a broader international market, noting that 24% of bitcoin and Ether futures volume originated in the EMEA region.
“We continue to develop additional tools for clients to hedge their cryptocurrency portfolios and express or have an opinion on potential market movements,” Vicioso added.
The introduction of the products marks CME's continued commitment to the crypto derivatives market since launching its first bitcoin futures in December 2017.
Recent data indicates significant interest in these offerings, with record open interest and trading volumes for bitcoin futures reported last month and notable increases in ether futures activity.
