Eurex to Launch Bitcoin ETN Futures in Response to 'Massive Demand'

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.

• 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.”