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CME Group to Launch Euro-Denominated Bitcoin and Ether Futures

The introduction of euro-denominated Bitcoin and Ether futures by CME Group is poised to significantly influence institutional cryptocurrency adoption within the eurozone.

Giovanni Vicioso, executive director at CME Group, shared insights with Cointelegraph, emphasizing the potential for broadening participation in the cryptocurrency markets.

According to Vicioso, the existing U.S. dollar-denominated cryptocurrency products have attracted a diverse group of participants, including traditional proprietary trading firms.

He expects these firms to also engage with the new euro-based products.

Vicioso revealed that the forthcoming euro-denominated futures have already sparked interest among various investors, including macro hedge funds, small asset managers, and dedicated crypto investors.

This move by CME, the leading derivatives marketplace comprising four exchanges, to introduce Micro Bitcoin and Micro Ether futures in euros, scheduled for March 18, marks a significant expansion in its cryptocurrency derivatives offerings.

The euro-denominated futures are anticipated to essentially function as a foreign exchange (FX) contract, attracting additional market participants.

Vicioso explained the mechanics, noting that investors could long the U.S. dollar contract while shorting the euro version, or vice versa, effectively creating an FX contract with Bitcoin and Ether.

The launch of Bitcoin-based exchange-traded products (ETPs) and the approval of the first spot Bitcoin ETFs in the U.S. on January 11 have already generated significant interest.

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This interest was underscored by the over $2 billion in combined daily volume recorded by the new spot Bitcoin ETFs, excluding the Grayscale Bitcoin Trust ETF conversion.

Vicioso pointed out that the anticipation and regulatory approval of U.S.-based spot Bitcoin ETFs have fueled an uptick in institutional interest in Bitcoin.

He highlighted the increase in Euro-denominated Bitcoin and Ether volumes since September and mentioned the growing customer interest in euro-denominated cryptocurrency products.

Furthermore, CME has seen a substantial increase in its average daily Bitcoin trading volume, which has nearly doubled from $1.6 billion in 2023 to over $3 billion in 2024.

Despite these advancements, Bitcoin’s price saw a slight decline of 0.62% in the 24 hours leading up to 1:15 pm UTC, trading at $62,383.

However, it has shown a significant increase of 22.50% on the weekly chart, indicating the cryptocurrency’s enduring appeal and volatility.

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Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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