CME Group's next crypto move includes the launch of euro-denominated Bitcoin and Ether futures.
CME Group’s next crypto move includes the launch of euro-denominated Bitcoin and Ether futures.
The company already has a deep history with the crypto industry. A few months ago, it launched micro options on Bitcoin and Ether futures, justifying its move with the surging investor appetite for such services.Despite the grim condition of the cryptocurrency market, the American-based firm doubled down on its digital asset endeavors. Itthe introduction of euro-denominated Bitcoin and Ether futures that will become available for customers at the end of the month.
Tim McCourt – Global Head of Equity and FX Products at CME Group – argued that the current status of the crypto sector increases the clients’ interest in such products:“Ongoing uncertainty in cryptocurrency markets, along with the robust growth and deep liquidity of our existing Bitcoin and Ether futures, is creating an increased demand for risk management solutions by institutional investors outside the U.S.
The exec added that euro-denominated digital assets rank as the second-highest traded fiat behind the American dollar.
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