Eurex Nabs CFTC Approval for Bitcoin Futures

Eurex FTSE Bitcoin Index Futures have been approved by the US Commodities Futures Trading Commission (CFTC), meaning US-based investors can trade the product from 29 May.

Eurex says the launch is an important milestone in its efforts to offer secure and trusted access to cryptocurrencies in a regulated market environment. It is the first exchange in Europe to offer bitcoin index futures, with trading starting outside the US on 17 April – the contract was developed in collaboration with FTSE Russell and Digital Asset Research.

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 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,” says Michael Lie, head of digital asset trading at Flow Traders. “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, Eurex says more than 10 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.