Bitcoin ETN Futures is based on ETC Group’s BTCetc™ – ETC Group Physical Bitcoin (ticker: BTCE), which launched on Deutsche Börse XETRA in June 2020. Since then, it has been listed on multiple European exchanges, and is currently the world’s most heavily traded crypto ETP.
Fully-fungible with the underlying bitcoin
According to the statement shared with Finbold.com, the new futures contract will be traded in Euros and physically delivered in BTCE, which is 100% backed by bitcoin and can be readily redeemed by any investor for the underlying bitcoin. Randolf Roth, a Member of the Eurex Executive Board has confirmed, that the institutional demand for digital assets-related products is on a rise: According to Mr. Roth, “this move will allow a greater number of market participants to trade and hedge Bitcoin, with this new future being treated in the same way as any other derivatives contract in terms of central clearing, netting, and risk management.” [coinbase]
