CME says there’s growing demand for non-USD denominated crypto derivatives products. 
The company also plans to launch options on Ethereum futures on 12 September. 

Derivatives marketplace CME Group has announced its Euro-denominated Bitcoin (BTC) and Ether (ETH) futures contracts are now live.

On Monday, August 29, 2022, the company officially unveiled two euro-denominated crypto futures contracts, noting that the products “will be listed on and subject to the rules of CME.”

Now live: euro-denominated Bitcoin and Ether futures. Efficiently manage bitcoin and ether exposure in the underlying currency of your choice. https://t.co/Mxfk4ajee9 pic.twitter.com/A5BZ53RAYL

— CME Group (@CMEGroup) August 29, 2022

Bitcoin Euro and Ether Euro futures contracts

As announced earlier this month, Bitcoin Euro will be sized at 5 BTC and the Ether Euro contract at 50 ether. The contracts are cash settled, and will be based on the CME CF Bitcoin-Euro Reference Rate as well as the CME CF Ether-Euro Reference Rate, the company noted in the announcement.

“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” said Tim McCourt, the Global Head of Equity and FX Products at CME Group.

He noted that the two contracts’ offering comes after a strong showing, both in terms of overall growth and liquidity, for the derivatives giant’s US dollar-denominated bitcoin and ether contracts.

CME Group is unveiling these futures products as the crypto market navigates a crypto winter that has decimated crypto prices. However, demand for properly regulated non-USD crypto derivatives remains high.

The provider also plans to launch an options contract on Ether (ETH) futures. The contract, sized at 50 ether, will be rolled out on 12 September, with this being subject to regulatory review.

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