A leading derivatives marketplace, CME Group, is going to extend its cryptocurrency derivatives offering by launching Micro Bitcoin Euro and Micro Ether Euro futures on March 18 if regulatory approval is obtained.
Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group, stated “The rising global interest in Bitcoin and ether is boosting CME Group’s volume by a factor of four for its Micro Bitcoin and Micro Ether futures, which are both priced in the US dollars.”
The launch of these new Micro Euro-denominated contracts will provide clients with additional products to more efficiently hedge bitcoin and ether exposure in the second-highest traded fiat behind U.S. dollar-based contracts.
The Micro Euro-denominated contracts, that are sized at one-tenth of their respective cryptocurrencies are introduced with the objective of providing more accurate risk management tools.
In 2023, 24% of Bitcoin and Ether futures volume coming from the EMEA region created the need for additional hedging options for crypto portfolios by CME Group.
TP ICAP will support the new contracts with block services, enhancing accessibility and utility in Europe. CME Group’s Cryptocurrency product suite, recognized for its unparalleled liquidity and volume, achieved a historic daily average volume of 71K contracts in January.
The introduction of Micro Euro-denominated Bitcoin and Ether futures by CME Group reflects a proactive response to the growing global demand for diverse and accessible cryptocurrency hedging options.
Also Read: German MP Thinks Bitcoin Can become legal tender in Europe
