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Chicago-based CME Group launches futures contracts for bitcoin and ether against the euro

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Chicago-based CME Group launches futures contracts for bitcoin and ether against the euro

Chicago-based CME Group, one of the leading players in the global derivatives market, has announced plans to expand its offerings of new financial instruments.

The financial group launches cryptocurrency futures contracts for bitcoin and ether against the euro. BTC-Euro and ETH-Euro are designed to match their fiat-denominated counterparts and will be offered at 5 BTC and 50 ETH per contract.

“The launch of CME Group’s euro-denominated bitcoin and ether futures will help manage the uncertainty in the cryptocurrency markets and meet the growing demand from institutional investors for regulated and reliable crypto derivatives,” said Tim McCourt, Head of Equity and FX Products at CME Group.

According to CME, in the first half of 2022, fiat-denominated cryptocurrency futures became the second largest after the US dollar. Since the beginning of the year, the region accounts for almost 30% of the total trading volume in bitcoin and ether futures contracts, which is 5% more than in the same period in 2021.

In April, CME Group announced plans to create altcoin futures contracts, including Solana (SOL) and Cardano (ADA).

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Source: Cryptocurrency

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