High-profile derivatives marketplace Chicago Mercantile Exchange Group reportedly set to roll out trading for Bitcoin euro and Ether euro futures contracts beginning the 29th of August.

Specifically, CME Group reportedly revealed that pending review regulation-wise, it aims to introduce contracts catering to euro-denominated Bitcoin (BTC) and Ether (ETH) futures that will be sized at 5 BTC and 50 ETH per contract. 

The listing of both contracts will be finalized on CME, cash-settled, and based on the CME CF Bitcoin-Euro Reference Rate and CME CF Ether-Euro Reference Rate.

“Ongoing uncertainty in cryptocurrency markets, along with the robust growth and deep liquidity of our existing Bitcoin and Ether futures, is creating increased demand for risk management solutions by institutional investors outside the U.S.,” said CME Group global head of equity and FX products Tim McCourt.

Per McCourt, Euro-denominated cryptocurrencies secure the second spot in the list of top traded fiat, following the top one U.S. dollar.

As disclosed by McCourt, Eu-based nations, along with  the Middle East and Africa, reportedly took up 28% of all trading for BTC and ETH futures contracts. The disclosure of the listing also followed the euro caught up with the U.S. dollar in July for the first time after 20 years – at the time of publication, 1 euro is worth around $1.02.

CME Group reportedly introduced the first BTC futures contract – denominated in U.S. dollars – in December five years ago, with a follow-up roll-out of an ETH futures contract in February last year. 

In March, the derivatives exchange reportedly widened the scope of its services of crypto investment instruments to cover micro BTC and ETH futures.

In July, CME Group’s BTC and ETH derivatives contracts reportedly witnessed record activity in Q2 of 2022, with 10,700 and 6,100 contracts traded, respectively. The exchange further reported its micro BTC and ETH products had an average daily volume of 17,400 and 21,300 contracts, respectively, in Q2 2022.