While the eyes of crypto investors are focused on the United States and the slow actions of regulators there, the industry is gaining momentum in Europe. The first bitcoin futures product is about to open on our continent!
Eurex comes out with a new offering
Monday, September 13 could become a very important day for the European crypto scene. This is when Eurex plans to launch the first bitcoin futures product located on this side of the globe. ETC Group, which is a leading provider of digital asset-backed securities, is expected to provide support.
As Randolf Roth, director of Eurex, reports, the decision has a strong basis in demand:
“Given the growing demand from institutions for safe exposure to BTC, we are pleased to begin offering BTC futures on our regulated Eurex trading and clearing platform. This move will allow more market participants to trade Bitcoin.”
The contracts, which will be launched later in the first half of September, will operate on the Frankfurt Stock Exchange. They are to be settled in euros and be fully covered and convertible into actual Bitcoin.
Who is Eurex?
Eurex is an international exchange specializing mainly in derivatives trading within Europe. It is Europe’s largest futures and options market. The exchange was founded in 1998 and is based in Eschborn, Germany. It is owned by a German exchange operator called Deutsche Börse.
Meanwhile, in the United States…
Until recently, one could get the impression that the United States is the most friendly market for cryptocurrencies. Many projects are developing right on their territory. The involvement of institutions in this asset segment is also among the above-average. Unfortunately, this pace is slowed down by regulators, who, so to speak, have given the lead to Europeans.
As a result, applications for the creation of ETFs on Bitcoin are constantly being rejected, or decisions on them are delayed. This causes investors to look more and more favorably on potential investments in Europe. It is worth noting that recently German institutional funds received the green light to allocate 20% of the value of their portfolios in digital assets. This is a huge capital that can have an exponential impact on the market. The same potential in the United States is blocked. This clearly indicates that at the current stage of cryptocurrency adoption, Europe is the region that is much more favorable to them.