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Exchanges run by Deutsche Boerse, such as Eurex and Xetra, are expanding their presence in the crypto derivatives market.
Eurex, a derivatives exchange operated by Deutsche Boerse, has launched cryptocurrency derivatives trading utilising ETC Group’s Bitcoin (BTC) exchange-traded note (ETN) futures product.
The debut of the Bitcoin ETN Futures contract established by London-based crypto derivatives issuer ETC Group was officially confirmed by Eurex on Monday.
“As the first step in our portfolio of crypto derivatives, the offering is the first regulated market in Bitcoin-related derivatives in Europe,” Eurex said.
Trusted path to #crypto: today, we launched #Bitcoin ETN #Futures. As the first step in our portfolio of #CryptoDerivatives, the offering is the first regulated market in Bitcoin-related #derivatives in Europe. Get all information and the factsheet here: https://t.co/bk55yqFssN pic.twitter.com/ADpzOCqTnm
— Eurex (@EurexGroup) September 13, 2021
The euro-denominated Bitcoin ETN Futures contract is based on ETC Group’s flagship product, BTCetc Physical Bitcoin, a centrally cleared Bitcoin exchange-traded product (ETP) (BTCE). The futures contract allows investors to watch the price growth of Bitcoin in a regulated environment and will be physically delivered in BTCE, which is 100% backed by Bitcoin and can be quickly converted into the underlying BTC by any investor.
ETC Group CEO Bradley Duke noted that the latest listing marks another major milestone in providing institutions with financial products that enable exposure to crypto on regulated exchanges. “The selection of BTCE by Eurex, Europe’s largest derivatives exchange,” he said, “further reinforces ETC Group’s leadership in crypto ETPs and is validation of the quality of our products and their world-beating liquidity.”
The registration of Bitcoin ETN Futures on Eurex comes more than a year after ETC Group listed its BTCE ETP product on Xetra, a prominent digital stock exchange run by Deutsche Boerse. The ETP is now available on a number of European markets, including the SIX Swiss Exchange. ETC Group announced in July that BTCE would become carbon neutral by offsetting its carbon footprint with hand-picked carbon credits to compensate for carbon emissions linked with BTCE BTC mining.