CME Group is ready to launch new cryptocurrency-linked merchandise amid rising demand
Chicago-based CME Group is on monitor to launch euro-denominated Bitcoin and Ethereum futures, in accordance with a Thursday press release.
They are going to be launched in late August, the corporate’s announcement says.
Tim McCourt, senior managing director, world head of fairness and FX merchandise at CME Group, claims that the Europe, Center East and Africa (EMEA) area represents practically a 3rd of the full buying and selling quantity for Bitcoin and Ether futures contracts.
McCourt claims that the present uncertainty creates extra demand for added threat administration options.
The world’s largest futures alternate embraced Bitcoin again in December 2017. It has since emerged as a dominant power within the crypto market. In line with information supplied by cryptocurrency analytics agency Coinglass, CME is presently in fourth place by Bitcoin futures open curiosity (behind solely Binance, OKex, and FTX).
In February 2021, the world’s main derivatives market additionally launched Ether futures. Notably, this coincided with the beginning of a significant rally for the second-biggest cryptocurrency opposite to many expectations throughout the business. Shortly after that, it launched micro-sized Bitcoin futures.
In March, the Chicago-based buying and selling platform launched micro-sized Bitcoin and Ether choices.