Europe prepares for first Bitcoin futures launch amid US ETF stalemate


Europe’s first ever Bitcoin (BTC) futures will launch subsequent month on the continent’s largest derivatives market, Eurex, an announcement confirms.

In a press launch issued Aug. 24, digital asset-backed securities supplier ETC Group stated that its Bitcoin ETN Futures product will begin buying and selling Sep. 13.

Europe highlights “rising institutional demand”

ETC Group already operates the world’s first centrally-cleared Bitcoin exchange-traded product (ETP), referred to as BTCetc Bodily Bitcoin (BTCE).

Launched in June 2020 on Deutsche Boerse, there at the moment are a number of crypto ETPs from the agency, three of which may even start buying and selling on the Wiener Boerse — Vienna’s inventory change — in future, Cointelegraph reported.

The strikes come amid elevated investor demand for institutional merchandise tied to Bitcoin and altcoins, with Europe historically offering a friendlier atmosphere than the US, which is dragging its heels over approval of a Bitcoin exchange-traded fund (ETF).

Eurex will thus host the primary European futures contract primarily based on a crypto ETP from subsequent month.

“Given the rising institutional demand for safe publicity to Bitcoin, we’re delighted to start itemizing these Bitcoin ETN futures on our regulated buying and selling and clearing infrastructure at Eurex,” Eurex govt board member Randolf Rolf commented. 

“This transfer will permit a better variety of market members to commerce and hedge Bitcoin, with this new future being handled in the identical manner as some other derivatives contract by way of central clearing, netting, and danger administration.”

Bitcoin traded at $49,700 on the time of writing, down round 1% on the day after briefly passing the $50,000 mark.

Combined institutional sentiment lingers

As Cointelegraph famous, institutional investor sentiment is slowly returning to favor crypto portfolio publicity.

Associated: Professional merchants are mildly skeptical about Bitcoin’s current return to $50K

That stated, institutional devices such because the Grayscale Bitcoin Belief (GBTC) have lagged behind surging spot costs, signalling that uptake is just not but again at bull market ranges seen earlier than Bitcoin’s all-time highs in April.

The GBTC premium — the extra price of the Belief’s shares in comparison with BTC spot worth — continues to hover in unfavourable territory, equating to the shares buying and selling at a reduction.

GBTC premium vs. BTC/USD chart. Supply: Bybt