CME Group plans to launch new cryptocurrency-linked product amid growing demand
based in chicago CME Group According to Thursday, it will launch euro-denominated Bitcoin and Ethereum futures. press release.
According to the company’s announcement, they will be available in late August.
CME Group’s senior managing director, global head of equities and FX products, Tim McCourt, said the Europe, Middle East and Africa (EMEA) region accounts for nearly one-third of the total volume of Bitcoin and Ether futures contracts traded. claim.
McCourt argues that the current uncertainty is driving demand for additional risk management solutions.
Adopt the world’s largest futures exchange Bitcoin Dating back to December 2017. According to data provided by cryptocurrency analytics firm Coinglass, CME is currently the 4th largest Bitcoin futures open interest (behind Binance, OKex and FTX).
In February 2021, the world’s leading derivatives market also launched Ether futures. Notably, this coincided with the start of the second largest cryptocurrency major rally, contrary to many expectations within the industry. Shortly thereafter, it launched micro-sized Bitcoin futures.
In March, the Chicago-based trading platform launched micro-sized Bitcoin and Ether options.