Eurex supported by Deutsche Boerse incorporates Ethereum into its cryptocurrency derivatives portfolio

Eurex, a derivatives exchange based in Germany, has announced its plans to expand its portfolio by introducing futures and options index based on Ethereum. The decision was made in response to the growing demand for trading and hedging from institutional and professional customers. The new product, called FTSE Ethereum Index Futures and Options, is set to be launched on August 12, following the introduction of FTSE Bitcoin Index Futures and Options in 2023. These options and futures will be available in both EUR and USD, and each contract will represent 10 ETH, equivalent to around $35,000. The contracts will be cash-settled and will expire on the last Friday of each month. The index, developed by FTSE Russell in collaboration with Digital Asset Research, complies with EU Benchmarks by aggregating data from trusted assets and exchanges. The final settlement rate for the contracts will be determined using a volume time-weighted average of the FTSE DAR Digital Asset Price over a 15-minute period before the fixing time. This announcement comes amidst reports suggesting that the U.S. Securities and Exchange Commission is preparing to approve spot Ethereum exchange-traded funds (ETFs) for trading in American markets, which could potentially attract significant inflows of up to $5 billion in the first six months and reach $20 billion within the first year.