Markets News Report
February 20, 2024

CME Group to Launch Micro Euro-Denominated Bitcoin and Ethereum Futures on March 18th

In Brief

CME Group plans to broaden its crypto derivatives portfolio by introducing Micro Bitcoin and Ethereum Euro futures starting March 18th.

CME Group Announces Launch Micro Euro-Denominated Bitcoin and Ethereum Futures on March 18

Derivatives marketplace CME Group announced plans to broaden its cryptocurrency derivatives portfolio by introducing Micro Bitcoin (BTC) Euro and Micro Ethereum (ETH) Euro futures starting March 18th.

Launching new Micro Euro-denominated contracts will provide global investors with additional products to hedge Bitcoin and Ethereum exposure more efficiently in the second-highest traded fiat behind US dollar-based contracts. 

Designed to align with US dollar-denominated counterparts, Micro BTC Euro and Micro ETH Euro futures contracts will be sized at one-tenth of their respective underlying cryptocurrencies. These futures contracts will be listed on and subject to the rules of CME Group.

A financial services firm focused on liquidity and data solutions; TP ICAP will support this cryptocurrency derivative by providing block facilitation services to the product. TP ICAP has been offering price discovery and execution services on CME Group’s suite of cryptocurrency derivatives since 2020. 

“Interest in crypto derivatives has seen huge worldwide growth in recent years, and these new euro-denominated micro futures contracts will help further expand the accessibility and utility of crypto derivatives, particularly within Europe,” said Sam Newman, Digital Assets Head of Broking at TP ICAP.

CME Group facilitates trading futures, options, cash, and over-the-counter (OTC) markets, providing clients with the means to navigate portfolios, analyze data, manage risk, and seize opportunities globally. The company offers futures and options on futures trading through the CME Globex platform, engages in fixed-income trading via BrokerTec, and conducts foreign exchange trading on the EBS platform. 

Surging Demand for Bitcoin and Ethereum Euro Futures

More investors are looking to hedge their risk or gain exposure to the Micro BTC Euro and Micro ETH Euro futures asset class.  

In January, the average daily open interest for BTC and ETH futures achieved all-time highs for the month at 23,500 contracts and 6,000 contracts, respectively. While the trading activity of Micro BTC and Micro ETH futures also experienced a surge, with average daily volumes expanding by 43% compared to December 2023.

CME Group’s expansion into Euro-denominated micro futures reflects the market’s evolving demand, reinforcing its pivotal role in providing diverse and efficient cryptocurrency derivatives.

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About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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