Sunday, September 26, 2021

Deutsche Boerse-owned Eurex debuts Bitcoin futures trading

Eurex, a derivatives trade owned by German inventory market operator Deutsche Börse, 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 step one in our portfolio of crypto derivatives, the providing is the primary regulated market in Bitcoin-related derivatives in Europe,” Eurex mentioned.

The euro-denominated Bitcoin ETN Futures contract relies on ETC Group’s flagship product, centrally cleared Bitcoin exchange-traded product (ETP), generally known as BTCetc Bodily Bitcoin (BTCE). The futures contract permits buyers to trace the value growth of Bitcoin in a regulated setting and might be bodily delivered in BTCE, which is 100% backed by Bitcoin and might 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 choice of BTCE by Eurex, Europe’s largest derivatives trade, additional establishes ETC Group’sleadership within the crypto ETPs and is recognition of the standard of our merchandise and their world-beating liquidity,” he famous.

Associated: Swiss Change 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 serious digital inventory trade operated by Deutsche Borse. The ETP is now listed on a number of European exchanges, together with the SIX Swiss Change. In July, ETC Group introduced that BTCE was going carbon impartial by offsetting the carbon footprint by way of hand-selected carbon credit to compensate for carbon emissions related to BTCE Bitcoin mining.