CME Group has announced that it will launch Bitcoin and Ethereum futures in euros.
The financial products will launch at the end of August, the company said in a press release today.
In Europe, the Middle East and Africa, Bitcoin and Ethereum futures contracts account for approximately one-third of the total trading volume, said Tim McCourt, CME Group executive.
McCourt cited the current uncertainty in the markets as the reason for this. The economic depression is causing more demand for these types of products.
CME, the world’s largest futures exchange, adopted Bitcoin in 2017. Since then, it has played an important role in the crypto market. According to data from crypto analytics firm Coinglass, CME ranks fourth for Bitcoin futures open interest, just behind Binance, OKEx and FTX.
CME Group also launched Ethereum futures in February 2021. This move of CME coincided with the rally of Ethereum.
The trading platform also announced the launch of micro-size Bitcoin and Ethereum options last March.
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