On Monday, Eurex, a derivatives exchange owned by the German stock market operator Deutsche Börse, officially announced its debut in crypto derivatives trading with the futures product Exchange Traded Note (ETN) Bitcoin (BTC), proposed by London-based issuer ETC Group.
Safe path for #crypto: today we launched #Bitcoin ETN #Futures. As a first step in our #CryptoDerivatives portfolio, the product is the first regulated Bitcoin-related #derivatives market in Europe. Get all the information and the fact sheet here: https://t.co/bk55yqFssN
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, the Bitcoin Exchange Traded Product (ETP) with centralized clearing, known as BTCetc Physical Bitcoin (BTCE). The futures contract allows investors to monitor Bitcoin’s price performance in a regulated environment and will be physically delivered in BTCE, 100% collateralised by Bitcoin and with the ability to be instantly converted by any investor into the underlying BTC.
ETC Group CEO Bradley Duke stressed that the recent listing marks another important milestone in providing institutions with financial products that allow exposure to cryptocurrencies on regulated exchanges. “The selection of BTCEs by Eurex, the largest derivatives exchange in Europe, further establishes the ETC group’s leadership in crypto ETPs and is a recognition of the quality of our products and their record liquidity”, he highlighted. .
Related: Swiss Exchange SIX has granted approval to launch the crypto marketplace
Bitcoin ETN Futures listing on Eurex comes more than a year after ETC Group listed its BTCE ETP product on Xetra, a leading digital exchange managed by Deutsche Borsa. The ETP is now listed on multiple European exchanges, including the SIX Swiss Exchange. In July, ETC Group announced that BTCE was on track to become carbon neutral, offsetting its carbon footprint through the acquisition of carbon credits to offset the carbon emissions associated with BTCE’s Bitcoin mining.