CME to Introduce Micro Bitcoin and Ether Futures in Euros
The Chicago Mercantile Exchange (CME) has revealed its plans to launch euro-denominated micro Bitcoin and Ether futures on March 18, pending regulatory approval. This move comes after the successful introduction of U.S. dollar-denominated micro Bitcoin futures in May 2021 and micro Ether futures in December 2021. CME had previously introduced standard euro-denominated Bitcoin and Ether futures contracts in August 2022, along with options products for these cryptocurrencies.
The micro futures contracts will be one-tenth the size of their respective underlying assets, providing a more accessible option for investors interested in Bitcoin (BTC) and Ether (ETH). Giovanni Vicioso, the Global Head of Cryptocurrency Products at CME Group, emphasized the increasing demand for precise risk management tools as the interest in Bitcoin and Ether continues to grow. He noted a four-fold increase in volume for USD-denominated micro Bitcoin and micro Ether futures, indicating the rising popularity of such products.
The decision to offer euro-denominated contracts is part of CME Group’s strategy to cater to a broader international market, considering that 24% of Bitcoin and Ether futures volume originates from the EMEA region. Vicioso stated that they are actively developing additional tools for clients in that region to hedge their crypto portfolios and express their views on potential market movements.
The introduction of these products reflects CME’s dedication to the crypto derivatives market since the launch of its first Bitcoin futures in December 2017. Recent data shows a significant interest in these offerings, with record-high open interest and trading volumes for Bitcoin futures reported last month, along with notable increases in Ether futures activity.
