Eurex,
a European derivatives exchange controlled by Deutsche Boerse, said that
bitcoin exchange-traded note (ETN) futures would be introduced to satisfy
"strong demand from institutional investors."
•
According to Eurex, the action will create Europe's first regulated market for
bitcoin-related derivatives.
•
The contracts will go live on September 13 and will be based on the BTCetc
Bitcoin Exchange Traded Crypto, which is listed on the Frankfurt Stock Exchange
(Ticker:BTCE).
•
According to Eurex, the derivative will provide access to bitcoin's price in a
regulated on-exchange and centrally cleared environment.
•
Since its launch on Xetra in June 2020, BTCE has been one of the most actively
traded contracts, according to the company.
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The contract will be traded in euros with bitcoin ETNs as physical delivery.
•
The Bitcoin ETN was launched with a value of 1/1000th of a bitcoin and is
completely backed by and redeemable in bitcoin, according to Eurex.
• According to Randolf Roth, a member of the Eurex executive board, “there is considerable desire from institutional investors to acquire bitcoin exposure in a safe and regulated environment.”
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