Deutsche Boerse-owned Eurex debuts Bitcoin futures buying and selling
Eurex, a derivatives exchange owned by German inventory market operator Deutsche Boerse, has debuted cryptocurrency derivatives buying and selling with ETC Group’s Bitcoin (BTC) exchange-traded observe (ETN) futures product.
Eurex formally introduced Monday the launch of the Bitcoin ETN Futures contract developed by London-based crypto derivatives issuer ETC Group.
“As the first step in our portfolio of crypto derivatives, the offering is the first regulated market in Bitcoin-related derivatives in Europe,” Eurex stated.
Trusted path to #crypto: right now, we launched #Bitcoin ETN #Futures. As step one in our portfolio of #CryptoDerivatives, the providing is the primary regulated market in Bitcoin-related #derivatives in Europe. Get all data and the factsheet right here: https://t.co/bk55yqFssN pic.twitter.com/ADpzOCqTnm
— Eurex (@EurexGroup) September 13, 2021
The euro-denominated Bitcoin ETN Futures contract relies on ETC Group’s flagship product, centrally cleared Bitcoin exchange-traded product (ETP), often known as BTCetc Physical Bitcoin (BTCE). The futures contract permits traders to trace the worth improvement of Bitcoin in a regulated surroundings and might be bodily delivered in BTCE, which is 100% backed by Bitcoin and may be immediately transformed by any investor into the underlying BTC.
ETC Group CEO Bradley Duke famous that the most recent itemizing marks one other main milestone in offering establishments with monetary merchandise that allow publicity to crypto on regulated exchanges. “The selection of BTCE by Eurex, Europe’s largest derivatives exchange, further establishes ETC Group’s leadership in the crypto ETPs and is recognition of the quality of our products and their world-beating liquidity,” he famous.
Related: Swiss Exchange SIX granted approval to launch crypto market
The Bitcoin ETN Futures’ itemizing on Eurex comes greater than a 12 months after ETC Group listed its BTCE ETP product on Xetra, a significant digital inventory exchange operated by Deutsche Boerse. The ETP is now listed on a number of European exchanges, together with the SIX Swiss Exchange. In July, ETC Group introduced that BTCE was going carbon impartial by offsetting the carbon footprint by means of hand-selected carbon credit to compensate for carbon emissions related to BTCE Bitcoin mining.