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CME Group Launches Trading For Bitcoin And Ether Euros Futures Contracts

Chicago Mercantile Exchange Group (CME Group), the derivatives marketplace, has launched trading for Bitcoin euro and Ether euro futures contracts.

It has been reported that CME Group said that it launched contracts for euro-denominated Bitcoin (BTC) and Ether (ETH) futures sized at 5 BTC and 50 ETH per contract. Both contracts will be listed on CME, cash-settled, and based on the CME CF Bitcoin-Euro Reference Rate and CME CF Ether-Euro Reference Rate.

Tim McCourt, the Global Head of Equity at CME Group, said:

"Our new Bitcoin Euro and Ether Euro futures will provide institutional clients, both within and outside the U.S., with more precise and regulated tools to trade and hedge exposure to the two largest cryptocurrencies by market cap."

However, first announced on August 4, the euro-denominated ETH futures represent investment vehicles launched prior to the Merge in which the Ethereum blockchain transitions to proof-of-stake — expected between September 10 and 20.

The report said that countries in Europe, the Middle East, and Africa represented 28% of all trading for BTC and ETH futures contracts. CME Group launched its first BTC futures contract in December 2017, followed by an ETH futures contract in February 2021. In 2022, the derivatives exchange expanded its offering of crypto investment vehicles to include micro BTC and ETH futures.

Likewise, the launch of euro-denominated BTC and ETH futures came as the euro remained at parity with the US dollar, as of August 29, 1 euro is worth around $1.

Thus, according to data, the price of ETH is $1,509, as of August 29, having risen more than 3% in the 24 hours. The BTC price fell below $20,000 on Sunday, hitting a 20-month low, but since rose 2% to reach $20,342.

Source: Cointelegraph


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