Financial derivatives platform Eurex will launch bitcoin-ETN futures with physical delivery of the first cryptocurrency on 13 September.
Financial derivatives platform Eurex will launch bitcoin-ETN futures with physical delivery of the first cryptocurrency on 13 September.
Standard clearing, netting and risk management processes will protect investors. This will reduce counterparty risk and transaction costs for market participants, according to the press release.
The contract is based on the exchange-traded product BTCetc, one of the most traded instruments in this category on Deutsche Börse's Xetra platform.
The ETN is equivalent to 1/1000 bitcoin and is fully collateralised and redeemable in the first cryptocurrency.
As a reminder, Deutsche Börse Group acquired a majority stake in Crypto Finance AG in June. The deal will allow the platform to expand its offering in digital assets.
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