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CME Group unveils Bitcoin and Ethereum futures for Europe

CME Group will launch euro-denominated microloans Bitcoin And ether Futures next month, responding to increasing demand in the derivatives market.

The Chicago-based trading company announced announced on Tuesday that it would launch crypto futures for the European market due to the popularity of U.S. dollar-denominated counterparts.

The futures will launch on March 18, subject to regulatory review.

The CME Group is the world's largest derivatives market and consists of four exchanges.

Futures are a type of contract that requires an investor to buy or sell the underlying asset at a specific price and on a predetermined expiration date. “Micro futures” refer to slivers of the underlying asset. In this case, according to CME Group, it is a tenth of Bitcoin (BTC) or Ethereum (ETH) – the two largest digital coins, whose prices are currently $51,538 and $2,940, respectively.

With minimal fees and better liquidity, such products have been popular with traders for years, offering them an alternative to spot crypto ETFs – at least before Bitcoin-based investment vehicles became widely available in the US

“Year-to-date, 24% of CME Group’s Bitcoin and Ether futures volume has transacted in the Europe, Middle East and Africa region,” CME Group global head of cryptocurrency products Giovanni Vicioso said in the announcement. “We continue to develop additional tools for clients there to hedge their crypto portfolios and express or assess potential market moves.”

He added that CME Group has seen “a four-fold increase in volume” across its US dollar-denominated counterparts.

CME Group first launched BTC futures in December 2017. It has since launched ETH futures and micro futures for both digital assets. A CME Group executive in 2022 said that the market was considering the release of Solana (SUN) And Cardano (ADA) also futures.

Edited by Ryan Ozawa.

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