Eurex FTSE Bitcoin Index Futures have been approved by the U.S. Commodities Futures Trading Commission (CFTC). Trading for US-based investors started on 29 May 2023.
The launch of FTSE Bitcoin Index Futures is an important milestone in Eurex's efforts to offer secure and trusted access to cryptocurrencies in a regulated market environment. Eurex is the first exchange in Europe to offer bitcoin index futures. US participants can now benefit from additional trading and hedging opportunities, with access to a wider range of participants and liquidity pools during Asian, European and US hours.
Outside of the US, trading began on 17 April 2023, and the contract was developed in collaboration with FTSE Russell, a leading global index provider, and Digital Asset Research (DAR), its provider of institutional-grade digital asset data.
The new futures contracts trade in EUR and USD with a contract multiplier equivalent to one bitcoin (BTC) and cash settlement on expiry with no position limits. The contract represents a step forward in meeting investors' needs for accurate price discovery, transparency and consistency in the digital asset market.
Michael Lie, Head of Digital Asset Trading, Flow Traders: "The approval of the first exchange-traded Bitcoin future in Europe by the CFTC, making it accessible to the US market, represents another significant step towards increasing the accessibility of cryptocurrencies among institutional investors. We welcome Eurex, one of the major derivatives exchanges, to expand its digital asset offering, which strengthens the belief of the acceptance and adoption of digital assets. Flow Traders remains committed to the development of the digital asset space and belief if will continue to play an important role in the global financial industry."
Since its launch, more than ten members have already traded hundreds of contracts, and additional participants are preparing to join. At least five market makers provided liquidity in the order book during the Asian, European and US trading hours.