The Chicago Mercantile Exchange (CME) has revealed its plan to introduce euro-denominated micro Bitcoin and Ether futures, slated for release on March 18, pending regulatory approval.
This announcement follows the successful rollout of U.S. dollar-denominated micro Bitcoin futures in May 2021 and micro Ether futures in December 2021.
Available March 18*, CME Group is introducing a second currency pair on our Micro Bitcoin and Micro Ether futures, Euro-denominated Bitcoin and Ether futures contracts.
*Pending regulatory review https://t.co/juxh2N2wDr
— CME Group (@CMEGroup) February 20, 2024
CME had previously debuted regular euro-denominated Bitcoin and Ether futures contracts in August 2022, along with options products for these cryptocurrencies.
These micro futures contracts are designed to be one-tenth the size of their respective underlying assets, offering a more accessible option for investors keen on Bitcoin (BTC) and Ether (ETH) exposure. Giovanni Vicioso, CME Group Global Head of Cryptocurrency Products, emphasized the demand for precision risk management tools amidst the burgeoning interest in bitcoin and ether.
Vicioso pointed out a substantial surge in volume for USD-denominated micro Bitcoin and micro Ether futures, indicative of the escalating demand for such products.
The decision to introduce euro-denominated contracts aligns with CME Group’s aim to cater to a broader international market, recognizing that 24% of Bitcoin and Ether futures volume originates from the EMEA region.
“We continue to develop additional tools for clients there to hedge their crypto portfolios and express or take a view on potential market moves,” Vicioso reiterated.
This initiative underscores CME’s sustained commitment to the crypto derivatives market since its initial launch of Bitcoin futures in December 2017.
Recent data reveals significant interest in these offerings, with record-high open interest and trading volumes for bitcoin futures reported last month, alongside notable increases in ether futures activity.
