HomeCryptoDeutsche Boerse-owned Eurex debuts Bitcoin futures trading

Deutsche Boerse-owned Eurex debuts Bitcoin futures trading

Eurex, a derivatives alternate owned by German inventory market operator Deutsche Börse, has debuted cryptocurrency derivatives trading with ETC Group’s Bitcoin (BTC) exchange-traded word (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.

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 growth 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’sleadership 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 yr after ETC Group listed its BTCE ETP product on Xetra, a serious digital inventory alternate operated by Deutsche Borse. 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.