CME Group to Launch Micro Euro Denominated Bitcoin and Ether Futures on March 18 By Investing.com

CME Groupthe world's leading derivatives exchange, announced today that it plans to further expand its cryptocurrency derivatives offer with the incorporation of Micro bitcoin Euro and microether futures on euro in March 18thpending regulatory review.

“Global investors have sought more precise tools to manage their risk as interest for bitcoin and the ether grows. As such, we have seen a four-fold increase in the volume of our Micro bitcoin and Micro Ether futures,” he said Giovanni ViciosoGlobal Head of Cryptocurrency Products in CME Group. “The launch of these new Euro-denominated Micro contracts will provide clients with additional products to hedge more efficiently bitcoin and ether exposure at the second highest traded fiat behind US dollar-based contracts. So far this year, 24% of bitcoin and Ether futures volume in CME Group has been conducted from the EMEA region and we continue to develop additional tools for clients there to cover their crypto portfolios and express or take an opinion on possible market movements.”

Designed to match your US their dollar-denominated counterparts, Micro bitcoin Euro futures and euro microether contracts will be one-tenth the size of their respective underlyings. CRYPTOCURRENCIES. These new futures contracts will be listed and subject to CME rules.

“TP ICAP will support this market definition crypto derived from CME Group providing block facilitation services to this product. Our global Digital Assets business has been providing price discovery and execution services in CME Group (NASDAQ:) set of crypto derivatives since early 2020, leveraging the strengths of TP ICAP to connect market participants as a foundation for our Digital Asset proposition,” he said Samuel Newman, Head of Digital Asset Brokerage at TP ICAP. “Interest in crypto Derivatives have seen enormous global growth in recent years and these new euro-denominated micro futures contracts will help to further expand the accessibility and usefulness of crypto derivatives, particularly within Europe“.

CME Group Cryptocurrency The product suite continues to provide consistent liquidity, volume and open interest for clients looking to hedge their risk or gain exposure to the asset class. January was a record month in terms of average daily volume (71 thousand contracts) in all Cryptocurrency products. Furthermore, the average daily open interest for bitcoin and Ether futures reached all-time highs for the month (23.5 thousand contracts and 6 thousand contracts, respectively). Micro bitcoin and Micro Ether futures also saw an increase in trading, with average daily volumes growing 43% compared to December 2023.