While the US government has fallen into recession with regards to the approval of the Bitcoin ETF, Europe is already moving ahead with the offering of the first Bitcoin futures contracts overseen by the ETC Group, a leading provider of digital-asset-backed securities.

Europe’s First Bitcoin Futures:

According to advertiseEurope’s largest derivatives exchange, Eurex, will list the first Bitcoin ETN contracts on September 13, 2021.

Thus, investors will have access to the Bitcoin futures contracts offered by the “ETC Group”, the first product of its kind to be traded on an exchange in the world.

The availability of the Bitcoin futures option comes after high institutional demand for it in Europe.

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Randolph Roth, Eurex CEO and Board Member, said:

Given the growing institutional demand for secure bitcoin dealings, we are pleased to begin including these bitcoin futures contracts in Eurex’s regulated trading and clearing infrastructure.

This move will allow more market participants to trade and hedge bitcoin, while treating this new future in the same way as any other derivative contract in terms of central clearing, netting, and risk management.

ETC Group, launched in June 2020, is now one of the largest providers of Bitcoin ETPs in the world with several companies operating there.

According to the company, the futures contracts will be physically traded and delivered, and are 100% backed by Bitcoin.

Europe is ahead of the USA:

The regulatory environment in the United States is not very open to the crypto space.

Regulators such as the Securities and Exchange Commission (SEC) are currently in the doldrums and have not approved any Bitcoin ETFs on their table.

Meanwhile, Europe proved to be a more friendly environment for crypto products after the higher institutional demand for crypto-related products compared to the United States of America.

Read:Director of Financial Markets at OKEx: China’s Crypto Situation Is Not Bad and Bitcoin Will Recover $60K in 2021

Despite the pessimism among US investors, Michael Sonninchin, CEO of Grayscale, said the country’s ETFs are only a matter of time.

Many European laws now deal well with cryptocurrencies than ever before.

At the beginning of August, Germany-based institutional funds will be able to allocate up to 20% of their investment portfolios in digital assets.

The initiative came after several local institutions demanded exposure to crypto-related products.

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