CME Group Representative Comments on Launch of BTC Futures and Euro-Denominated ETFs
Date: 2024-03-02 Author: Dima Zakharov Categories: BLOCKCHAIN
Growing Acceptance of Digital Assets in Traditional Finance Sector
Each year witnesses a steady rise in the adoption of digital assets within the traditional financial sector. More prominent organizations are becoming increasingly willing to engage with cryptocurrencies. Giovanni Viciouso, a representative from CME Group, believes that the forthcoming launch of BTC futures contracts and ETFs denominated in euros will contribute to a significant increase in institutional demand for these coins within the EU.
Expansion of Trading Products by CME
CME currently stands as one of the leading platforms for derivative trading. The organization plans to expand its range of available products by introducing Micro Bitcoin and Micro Ethereum, both denominated in the European currency. These assets are expected to become available to a wide range of investors by mid-month.
Success of Recent Bitcoin ETFs
The successful launch of spot Bitcoin ETFs in the US has attracted the attention of numerous major organizations. These funds continue to set new records daily in terms of trading volumes and attracting investment funds.
Grayscale Bitcoin Trust Amidst Market Dynamics
Despite users continuing to withdraw assets from the Grayscale Bitcoin Trust, this does not significantly impact the overall market, as ETFs from BlackRock and Fidelity actively attract investor funds in large volumes.
Significant Trading Volume and Growing Demand in Europe
As of February 28, industry funds recorded a total trading volume exceeding $2 billion within a day. Bitcoin funds, in this context, significantly outperform gold ETFs. Many experts also note a rapid increase in demand for this instrument within Europe. It is expected that spot funds for the main altcoin may be approved in May, potentially significantly increasing its attractiveness from an investment perspective.
