The largest European futures and options market, Eurex, is launching a bitcoin exchange-traded note (ETN) futures. The derivatives arm of Deutsche Börse Group said, “This offering will be the first regulated market in bitcoin-related derivatives in Europe.”
Eurex Launching ‘First Regulated Market in Bitcoin-Related Derivatives in Europe’
Eurex Exchange, the largest European futures and options market, announced Friday the launch of bitcoin exchange-traded note (ETN) futures. Eurex is part of the Deutsche Börse Group.
“The new futures contract will be traded in euro and physically delivered in bitcoin ETNs,” the exchange explained, adding that its launch is planned for Sept. 13. The announcement details:
This offering will be the first regulated market in bitcoin-related derivatives in Europe … With the new contract, Deutsche Börse Group’s derivatives arm offers clients access to the price of bitcoin in a regulated on-exchange and centrally cleared environment.
The futures contract is based on Btcetc (Ticker symbol: BTCE, ISIN: DE000A27Z304), the first centrally cleared bitcoin exchange-traded product (ETP). It is listed on the Frankfurt Stock Exchange and has been among the most heavily traded ETF/ETN contracts on Deutsche Börse XETRA, Germany’s largest stock exchange, since its start in June last year.
“Both the underlying ETN, as well as the futures, trade, clear and settle on Deutsche Börse Group’s proven infrastructure,” the announcement continues.
Randolf Roth, a member of the Eurex Executive Board, commented:
There is significant demand from institutional investors to gain bitcoin exposure in a secure and regulated environment. We are pleased to be the first regulated exchange to offer this innovative contract.