CME Group has introduced euro-denominated Bitcoin and Ether futures on its derivatives marketplace today. The business claimed in a <a href="https://www.cmegroup.com/media-room/press-releases/2022/8/29/cme_group_announceslaunchofeuro-denominatedbitcoinandetherfuture.html" target="_blank" rel="nofollow noopener">statement</a> on Monday that the new product, which has a contract size of five Bitcoin and fifty <a href="https://www.cryptoknowmics.com/news/what-are-the-next-updates-on-the-ethereum-blockchain/" target="_blank" rel="noopener">Ethereum</a>, will accompany its dollar-denominated crypto counterparts.
<blockquote><em>"Designed to match their U.S. dollar-denominated counterparts, Bitcoin Euro and Ether Euro future contracts will be seized at five bitcoin and 50 ether per contract. These new contracts will be cash-settled, based on the CME CF Bitcoin-Euro Reference Rate and CME CF Ether-Euro Reference Rate, which serve as once-a-day reference rates of the euro-denominated price of Bitcoin and Ether."</em></blockquote>
https://twitter.com/CMEGroup/status/1564268083765809159

While derivatives rates have decreased along with the decline in crypto prices, trading in cryptocurrency derivatives on centralized exchanges increased by 13% last month compared to June, reaching more than $3 trillion. In July, the derivatives market accounted for 69% of all crypto volume, up from 66% in June.

Tim McCourt, global head of equity and FX products at CME Group, states that:
<blockquote><em>"The launch of these new futures contracts builds on the strong growth and deep liquidity we have seen in our existing U.S. dollar-denominated Bitcoin and Ether futures contracts."</em></blockquote>
<h2>Cryptocurrency Derivative Market is Massive</h2>
The market for cryptocurrency derivatives is massive: $174 billion in contracts were traded on exchanges in the last 24 hours. The statement demonstrates that there is still a lot of interest in the cryptocurrency sector, particularly given that Ethereum is soon to receive an <a href="https://www.cryptoknowmics.com/news/ethereum-foundation-announces-merge-date-for-the-ethereum-mainnet/" target="_blank" rel="noopener">update</a>.

CME Group Launches Euro-Denominated Bitcoin and Ether Futures

CME Group has introduced euro-denominated bitcoin and ether futures on its derivatives marketplace today. The business claimed in a statement on Monday.

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CME Group Launches Euro-Denominated Bitcoin and Ether Futures

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