Eurex to Launch Bitcoin ETN Futures to Meet ‘Significant Demand’

The contract will be traded in euros and physically delivered in bitcoin ETNs.

Aug 20, 2021 at 12:49 p.m. UTC
Updated Sep 14, 2021 at 1:43 p.m. UTC

Eurex, the European derivatives exchange owned by Deutsche Boerse, said it will introduce bitcoin exchange-traded note (ETN) futures to meet “significant demand from institutional investors.”

  • The move will establish the first regulated market in bitcoin-related derivatives in Europe, Eurex said Friday.
  • The contracts will be launched Sept. 13 and be based on the Frankfurt Stock Exchange-listed BTCetc Bitcoin Exchange Traded Crypto (Ticker:BTCE).
  • The derivative will give access to the price of bitcoin in a regulated on-exchange and centrally cleared environment, Eurex said.
  • According to the firm, BTCE has been one of the most heavily traded contracts on Xetra since its June 2020 introduction.
  • The contract will be traded in euros and physically delivered in bitcoin ETNs.
  • “The Bitcoin ETN was equivalent to 1/1000th of a bitcoin at launch and is fully backed by and redeemable in bitcoin,” Eurex said.
  • “There is significant demand from institutional investors to gain bitcoin exposure in a secure and regulated environment,” said Randolf Roth, a member of the Eurex's executive board.
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