Eurex derivatives exchange starts trading Bitcoin futures

Eurex, a derivatives exchange controlled by German stock market operator Deutsche Böerse, has launched Bitcoin futures trading option as it continues moving into the crypto derivatives market.

Eurex formally announced Monday the debut of the Bitcoin ETN Futures contract developed by London-based crypto derivatives issuer ETC Group.

“As the first step in our crypto derivatives portfolio, the offering is Europe's first regulated market in Bitcoin-related derivatives,” Eurex stated.

Trusted path to #crypto: today, we launched #Bitcoin ETN #Futures. As the first step in our portfolio of #CryptoDerivatives, the offering is the first regulated market in Bitcoin-related #derivatives in Europe. Get all information and the factsheet here: https://t.co/bk55yqFssN pic.twitter.com/ADpzOCqTnm

— Eurex (@EurexGroup) September 13, 2021

The euro-denominated Bitcoin ETN Futures contract is based on ETC Group's flagship product, BTCetc Physical Bitcoin, a centrally cleared Bitcoin exchange-traded product (ETP) (BTCE).

The futures contract allows investors to watch the price growth of Bitcoin in a controlled environment and will be physically delivered in BTCE, which is 100% backed by Bitcoin and can be quickly changed by any investor into the underlying BTC.

The latest listing, according to ETC Group CEO Bradley Duke, is “another big milestone in providing institutions with financial products that enable exposure to cryptocurrency on regulated exchanges.”

“The choice of BTCE by Eurex, Europe's largest derivatives exchange, cements ETC Group's leadership in crypto ETPs and is an acknowledgement of the quality of our products and their world-beating liquidity,” he said.

The listing of the Bitcoin ETN Futures on Eurex comes more than a year after ETC Group's BTCE ETP product was listed on Xetra, Deutsche Borse's largest digital stock market.

Multiple European markets, notably the SIX Swiss Exchange, have now listed the ETP. In July, ETC Group announced that BTCE has achieved carbon neutrality by compensating for carbon emissions linked with BTCE Bitcoin mining with hand-selected carbon credits.