Eurex to Launch Bitcoin ETN Futures to Meet ‘Significant Demand’

Eurex to Launch Bitcoin ETN Futures to Meet ‘Significant Demand’

Eurex, the European derivatives exchange owned by Deutsche Boerse, said it will introduce Bitcoin exchange traded note (ETN) futures to meet “significant demand from institutional investors.”

  • The move will establish the first regulated market in bitcoin-related derivatives in Europe, Eurex said Friday.
  • The contracts will be launched Sept. 13 and be based on the Frankfurt Stock Exchange-listed BTCetc Bitcoin Exchange Traded Crypto (Ticker:BTCE).
  • The derivative will give access to the price of bitcoin in a regulated on-exchange and centrally cleared environment, Eurex said.
  • According to the firm, BTCE has been one of the most heavily traded contracts on Xetra since its June 2020 introduction.
  • The contract will be traded in euros and physically delivered in bitcoin ETNs.
  • “The Bitcoin ETN was equivalent to 1/1000th of a Bitcoin at launch and is fully backed by and redeemable in Bitcoin,” Eurex said.
  • “There is significant demand from institutional investors to gain Bitcoin exposure in a secure and regulated environment,” said Randolf Roth, a member of the Eurex's executive board.
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