Giovanni Vicioso, the executive director of equity and alternative products at the CME Group, believes that the launch of euro-denominated Bitcoin and Ether futures products will contribute to the adoption of cryptocurrencies by institutional investors in the eurozone. Vicioso revealed that macro hedge funds, small asset managers, and long-term crypto investors have already shown interest in CME’s upcoming euro-denominated futures products. CME, known as the world’s leading derivatives marketplace, is expanding its cryptocurrency derivatives offerings by introducing euro-denominated Micro Bitcoin and Micro Ether futures products on March 18. Vicioso explained that these new products will essentially function as foreign exchange (FX) contracts, attracting a wider range of market participants. The recent approval of spot Bitcoin exchange-traded funds (ETFs) in the U.S. has also contributed to increased institutional interest in Bitcoin. As a result, the CME has experienced a significant increase in its average daily Bitcoin trading volume, reaching over $3 billion in 2024 compared to $1.6 billion in 2023. At the time of writing, Bitcoin was trading at $62,383, representing a 0.62% decrease in the past 24 hours but a 22.50% increase on the weekly chart.
CME Director anticipates increased institutional adoption with the introduction of Euro-denominated Bitcoin futures.