Eurex Lists Europe’s First Bitcoin Futures
- Eurex introduces Bitcoin ETN Futures, the first step in Eurex’s portfolio of crypto derivatives
- BTCetc™ – ETC Group Physical Bitcoin (ticker: BTCE) is the world’s most heavily traded Crypto ETP 1
- Eurex is the largest derivatives exchange in Europe
ETC Group , Europe’s leading specialist provider of innovative, digital asset-backed securities with over $1 billion AUM 2, announces the debut and live listing of Europe’s first Bitcoin Futures contract on Eurex, Europe’s largest derivatives exchange.
— ETC Group (@ETC_Crypto) September 13, 2021
Bitcoin ETN Futures, which has been created and launched by Eurex, is based on ETC Group’s BTCetc™ – ETC Group Physical Bitcoin (ticker: BTCE). The new futures contract, which started trading on 13 September, will trade in Euros and be physically delivered in BTCE, which is 100% backed by bitcoin and can be readily redeemed by any investor for the underlying bitcoin. BTCE launched on Deutsche Börse XETRA in June 2020, and is now listed on multiple European exchanges as well as becoming the first European Crypto ETP product to offset its carbon footprint earlier this year.
“The listing of Bitcoin Futures, based on ETC Group’s leading Bitcoin ETP, marks another major milestone in providing institutions with financial products that allow exposures to crypto on regulated exchanges. The selection of BTCE by Eurex, Europe’s largest derivatives exchange, further establishes ETC Group’s leadership in the crypto ETPs, and is recognition of the quality of our products and their world beating liquidity.”— Bradley Duke, CEO of ETC Group
Bitcoin ETN Futures allows investors to track the price development of Bitcoin in a fully regulated on-exchange environment and based on a transparent price discovery of the underlying BTCE. Structured in a similar way as physical Gold ETCs, with an equivalent physical redemption mechanism in place, Bitcoin ETN futures are centrally cleared like any other derivatives traded on Eurex. Eurex’s standard clearing, netting, and risk management processes thereby come into effect, mitigating counterparty risk and reducing operational costs for market participants.
Source: ETC Group
The US SEC has not approved spot bitcoin ETFs.
SEC has approved bitcoin futures ETFs but not bitcoin spot funds.
The SEC rejected VanEck's application for a spot bitcoin ETF.
Non-deliverable forwards are seen as a gateway to crypto for traditional financial institutions
The bitcoin ETP from the provider of institutional-grade, digital asset-backed securities has gathered $1.6bn.