The Chicago Mercantile Exchange (CME) has declared that subject to regulatory approval, micro Bitcoin and Ether futures denominated in euros would begin trading on March 18.
This comes after the successful introduction of micro Bitcoin futures denominated in US dollars in May 2021 and micro Ether futures in December 2021. CME first offered regular Bitcoin and Ether futures contracts priced in euros in August 2022, along with options products for both cryptocurrencies.
The size of each micro-futures contract will be a tenth of the corresponding underlying asset. This offers a more convenient choice for investors looking to gain exposure to Bitcoin (BTC) and Ether (ETH).
“Global investors have sought more precise tools to manage their risk as interest for bitcoin and ether grows,” said Giovanni Vicioso, CME Group Global Head of Cryptocurrency Products.
Vicioso emphasized the increased demand for such products by pointing out a four-fold increase in volume for micro Bitcoin and micro Ether futures denominated in USD.
The CME Group noted that 24% of the trade in Bitcoin and Ether futures has come from the EMEA region. As part of its efforts to serve a wider international market, it decided to provide contracts denominated in euros. Vicioso added:
“We continue to develop additional tools for clients there to hedge their crypto portfolios and express or take a view on potential market moves,”
Following the debut of its inaugural Bitcoin futures in December 2017, the CME has remained committed to the cryptocurrency derivatives market by introducing these products.
With record-high open interest and trading volumes for bitcoin futures announced last month and noteworthy rises in ether futures activity, recent data suggests a substantial interest in these offerings.
