ETC Group Launches Bitcoin Futures Trading On Eurex
Digital asset provider ETC Group launches Bitcoin futures trading on Europe’s largest derivatives market, Eurex.
The ETC Group said in a press release that trading on a new product called Bitcoin ETN Futures will begin on September 13th.
Thus, starting next month, Eurex will place the first European crypto-ETP-based futures contract.
Eurex executive board member Randolph Roth noted that the move will allow more market participants to trade and hedge bitcoins.
At the time of writing, Bitcoin is trading at $49,700, down about 1% on the day after briefly surpassing the $50,000 mark.
Notably, the launch of Bitcoin futures in the largest European market comes at a time of significant downturn of institutional investor interest in BTC products. Over the past week, investment outflow amounted to $2.8 million. During the same period, the Bitcoin rate fell by 6%.