There is nonetheless no signal of approval to launch an ETF in the US. Conversely, Europe’s 1st Bitcoin (BTC) futures contract will launch upcoming month, opening up large publicity possibilities in this probably rewarding industry.
24, cryptocurrency backed securities supplier And so forth Group explained its Bitcoin ETN futures products will commence trading on September 13 on the derivatives exchange. Europe’s biggest birthplace is Eurex.
Bitcoin ETN futures contracts are primarily based on And so forth Group’s BTCetc, the company’s bodily Bitcoin (BTCE). This function was launched on Deutsche Börse XETRA in June 2020. Since then, BTCE has been listed on numerous European exchanges and has develop into the world’s most traded crypto ETP.
While the new futures contracts will be traded in euros, they will be physically converted into BTCEs. This suggests that the contract is a hundred% backed by Bitcoin and can be simply redeemed by any investor for the underlying Bitcoin.
The moves come amid increasing investor demand for Bitcoin and altcoin-relevant items, provided the inherent “tradition” in which Europe is the industry that delivers a friendlier setting. The United States is generating just about every hard work to approval of Bitcoin exchange-traded money (ETFs).
Randolf Roth, member of the board of directors of Eurex, shared the following:
Given the increasing institutional demand for safe Bitcoin publicity, we are energized to begin listing these Bitcoin ETN futures contracts on a regulated trading and payment infrastructure.
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The publish that Europe is about to launch its 1st Bitcoin futures contract in the context of the US ETF standoff 1st appeared on Coinlive.