CME Group to launch Micro EUR futures for BTC and ETH

Rick Steves

“Year-to-date, 24% of Bitcoin and Ether futures volume at CME Group has been transacted from the EMEA region, and we continue to develop additional tools for clients there to hedge their crypto portfolios and express or take a view on potential market moves.”

Bitcoin ETF

CME Group has announced plans to expand its cryptocurrency derivatives offering with the introduction of Micro Bitcoin Euro and Micro Ether Euro futures, set for March 18, pending regulatory approval.

With the launch of Micro Bitcoin Euro and Micro Ether Euro futures, the derivatives marketplace aims to provide global investors with more precise tools for managing their risk amidst growing interest in bitcoin and ether.

These new contracts will be one-tenth the size of their respective cryptocurrencies, mirroring their U.S. dollar-denominated counterparts, and will adhere to CME’s rules.

TP ICAP, supporting the launch, will offer block facilitation services, enhancing the accessibility and utility of crypto derivatives in Europe.

CME Group’s cryptocurrency product suite continues to show robust liquidity, volume, and open interest, with January marking a record month for average daily volume across all Cryptocurrency products (71K contracts).

Four-fold volume increase in USD-denominated futures

Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group, said: “Global investors have sought more precise tools to manage their risk as interest for bitcoin and ether grows. As such, we have seen a four-fold increase in volume in our USD-denominated Micro Bitcoin and Micro Ether futures. 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. Year-to-date, 24% of Bitcoin and Ether futures volume at CME Group has been transacted from the EMEA region, and we continue to develop additional tools for clients there to hedge their crypto portfolios and express or take a view on potential market moves.”

Sam Newman, Digital Assets Head of Broking at TP ICAP, added: “TP ICAP will support this market-defining crypto derivative from CME Group by providing block facilitation services to this product. Our global Digital Assets business has been providing price discovery and execution services on CME Group’s suite of crypto derivatives since the start of 2020, leveraging TP ICAP’s strengths in connecting market participants as the foundation for our Digital Assets proposition. Interest in crypto derivatives has seen huge worldwide growth in recent years and these new euro-denominated micro futures contracts will help further expand the accessibility and utility of crypto derivatives, particularly within Europe.”

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