CME to launch Euro-denominated micro Bitcoin, Ether futures

The Chicago Mercantile Exchange (CME) announced the upcoming launch of euro-denominated micro Bitcoin and Ether futures, set for Mar. 18, pending regulatory clearance.

This follows the successful launch of U.S. dollar-denominated micro Bitcoin futures in May 2021 and micro Ether futures in December 2021.

CME had previously introduced regular euro-denominated Bitcoin and Ether futures contracts in August 2022, alongside options products for these cryptocurrencies.

Micro futures contracts will be one-tenth the size of their respective underlying assets. This provides a more accessible option for investors seeking 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 highlighted a four-fold increase in volume for USD-denominated micro Bitcoin and micro Ether futures, underscoring the growing demand for such products.

The decision to offer euro-denominated contracts comes as the CME Group seeks to cater to a broader international market, noting that 24% of Bitcoin and Ether futures volume has originated from the EMEA region.

“We continue to develop additional tools for clients there to hedge their crypto portfolios and express or take a view on potential market moves,” Vicioso added.

Introducing the products marks the CME’s ongoing commitment to the crypto derivatives market since launching its first Bitcoin futures in December 2017.

Recent data indicates a significant interest in these offerings, with record-high open interest and trading volumes for bitcoin futures reported last month and notable increases in ether futures activity.