Recently, Eurex announced the launch of Bitcoin ETN futures. The leading European derivatives exchange said that with the new contract, Deutsche Börse Group’s derivatives arm offers customers access to the price of Bitcoin in a controlled on-exchange and centrally cleared environment.
The new contract will be launched on 13 September. According to Eurex, this will be the first regulated market offering in Bitcoin-related derivatives in Europe.
Well, the futures contract is based upon the BTCetc Bitcoin Exchange Traded Crypto, which is listed on the Frankfurt Stock Exchange and has been among the most traded ETF/ETN contracts on Xetra since its introduction in June 2020.
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The Bitcoin ETN was equivalent to 1/1000th of a Bitcoin at launch and is fully backed by and redeemable in Bitcoin. The new futures contract will be traded in euro and physically delivered in Bitcoin ETNs.", said, Eurex.
To meet the significant demand from investors to gain Bitcoin exposure in a secure and regulated environment, Eurex said, is thrilled to be the first regulated exchange to offer this innovative contract.
ETN futures will enable investors to trade and hedge Bitcoin within Eurex’s infrastructure without the need to turn to unregulated crypto venues. This new offering is the logical extension of the ETN that already trades very successfully on Xetra.
It is worth noting that Eurex has expanded its innovative offering of the globe's first centrally cleared Bitcoin ETN on Xetra with further ETNs on Ethereum, Bitcoin Cash and Litecoin. Xetra has already established itself as Europe’s leading exchange for crypto ETNs with an average monthly order book turnover of 1B EUR in H1/2021.