CME Group launches euro futures on major cryptocurrencies

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Global market company CME Group has announced the launch of euro-denominated futures contracts on Bitcoin and Ethereum.

The products will be available to institutional investors adding to the company’s existing offering of US dollar contracts on the two largest cryptocurrencies. 

The size of the euro contracts will be five bitcoins, which is worth approximately €100,000, and 50 ethers, which is the equivalent of around €80,000.

Investors will be able to settle the contracts in cash based on the CME CF Bitcoin-Euro rate and the CME CF Ether-Euro rate, which act as a benchmark for the price of bitcoin and ether in euros.

‘The launch of these contracts builds on the strong growth and liquidity we have seen in our dollar-denominated Bitcoin and Ethereum futures contracts,’ said Tim McCourt, global head of equities and forex products at CME Group.

‘Our new Bitcoin euro and Ether euro futures will provide institutional clients, both within and outside the US, with more precise and regulated tools to trade and hedge exposure to the two largest cryptocurrencies by market cap.’

CME Group, which is based in the US, is the world’s largest  derivatives exchanges company and trades in asset classes including agricultural products, currencies, energy, interest rates, metals and stock indexes, as well as cryptocurrencies.

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