The CME Group launches Bitcoin and Ethereum futures in the euro zone

Derivatives marketplace CME Group on Monday launched the Bitcoin Euro and Ether Euro futures owing to demand outside the U.S.

Bitcoin and Ether Euro futures will be sized at five bitcoins and fifty ether per contract, according to Chicago Mercantile Exchange (CME) Group. 

Each cryptocurrency contract will be cash-settled based on the CME’s Euro reference rate. Bitcoin and Ethereum will not be exchanged there.

“Institutional clients, both domestically and abroad, are now able to trade and hedge exposure to the two largest cryptocurrencies by market cap with more precise and regulated tools through the new Bitcoin Euro and Ether Euro futures, according to Tim McCourt, the Global Head of Equity and FX Products at CME Group.

The CME Group is the world’s largest derivatives market. The exchange has already allowed U.S. dollars to be used in bitcoin and ether futures. 

As a result of the market manipulation protection Bitcoin futures have at the CME, the Securities and  Commission approved the first Bitcoin futures ETF in October of last year.

A Bitcoin spot ETF has yet to be approved by the commission, with Grayscale and Blackrock providing the closest products.

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