CME Group Launches Euro-Certified Micro. Bitcoin And Ethereum Next month futures will respond to rising demand in the commodities market.
Chicago based business announced On Tuesday, crypto futures for the European market will begin due to the popularity of their US dollar-denominated counterparts.
Pending regulatory review, the futures period begins on March 18.
The CME Group is the largest marketplace composed of four exchanges.
A future is a type of contract in which an investor must buy or sell an asset at a predetermined expiration date. “Minor futures” refer to pieces of an asset. In this case, CME Group said that it will be one tenth of Bitcoin (BTC) or Ethereum (ETH) – the two largest digital coins are currently valued at $ 51,538 and $ 2,940.
Such products have been popular with traders for years, offering lower fees and better exchange rates, allowing them the option of identifying crypto ETFs—at least before Bitcoin-based investment tools became widespread in the United States.
“Year-to-date, 24% of Bitcoin and Ether futures volumes have been traded on CME Group from the Europe, Middle East and Africa region,” Giovanni Vicioso, CME Group's global head of cryptocurrency products, said in the announcement. “There, we will continue to develop additional tools for our customers to hedge their crypto portfolios and provide visibility into potential market movements.”
He added that CME Group has seen a “quadrupling of volume” in its US dollar-denominated counterparts.
CME Group first launched BTC futures in December 2017. Since then, it has launched ETH futures and micro futures for both digital assets. CME Group Executive in 2022 he said. The marketplace was reviewing the release Solana (Sun) And Cardano (ADA) And so will the future.
Edited by Ryan Ozawa.
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