Eurex now offers personalized trading options for Bitcoin and Ethereum derivatives
May 5, 2025
Eurex recently debuted an expansion of its cryptocurrency derivatives product offerings, introducing nano futures on the FTSE Bitcoin and Ethereum indexes, as well as iShares Bitcoin ETP options on May 5th. These new products aim to enhance accessibility for smaller investors looking to participate in the cryptocurrency market within the secure framework of a traditional exchange. We had the opportunity to speak with Nicolae Raulet, Product and Business Development at Eurex, to gain a deeper insight into the focal points and expectations surrounding these innovative financial instruments.
The FTSE nano futures were specifically tailored to cater to the needs of smaller-scale investors who might lack the capital resources of larger firms. Nano futures, a further reduction in size compared to micro futures, offer investors a precise entry point into the world of cryptocurrencies. These cash-settled contracts reference both the FTSE Bitcoin and Ethereum indexes, providing exposure equivalent to one-hundredth of a Bitcoin or Ethereum coin. With Bitcoin prices fluctuating between $80,000 and $100,000, offering investors the ability to gain exposure between $800 and $1,000 is particularly advantageous for those operating on a smaller scale. Additionally, investors can benefit from lower upfront costs and other perks of the exchange-traded format such as transparency and capital efficiency. Moreover, the market will kick off with very tight pricing in the order book, thanks to a tier-one liquidity provider already committed to the market.
On the options front, the iShares Bitcoin options are part of the larger wave of European interest in cryptocurrency involvement. BlackRock’s introduction of the iShares Bitcoin ETP in Europe, akin to its historic Bitcoin ETF launch in the US, is poised to reshape the landscape of participation in the region. Eurex’s initiation of these options will play a significant role in propelling the trajectory of European cryptocurrency integration. Offering options in both euros and USD referencing XETRA and Euronext Amsterdam prices, Eurex is meeting growing demand in the market. The fact that tight spreads are already quoted on IB1T and the ETP AUM has surpassed $200 million hints at buoyant momentum in the underlying assets.
The variety of new cryptocurrency exposure options available bring with them unique advantages and contrasts. BlackRock’s US Bitcoin ETF launch marked a pivotal moment for the market, owing to ETPs’ facilitation of accessibility through traditional brokerage platforms. Furthermore, Eurex’s nano futures ensure reliable leveraged exposure to the market while guaranteeing fund security. Notably, with this launch, the popular crypto futures spot basis trade is now open on a European exchange, bridging a crucial gap in the market. Simultaneously, the ETP options offer enhanced risk management and trading strategy flexibility, enabling users to manage their Bitcoin portfolio risk effectively.
Listed options are already playing a substantial role in the cryptocurrency ecosystem globally, advancing price discovery and building liquidity. Eurex anticipates that the proliferation of options referencing crypto ETPs will further fortify liquidity in the iShares Bitcoin ETP options market. Options’ trading flexibility naturally appeals to a broader range of investors over time, offering the ability to purchase downside protection, capture upside convexity, adjust leverage, and engage in yield enhancement strategies. These new options, albeit geared towards smaller investors, also serve as an indispensable tool for institutional investors looking to tailor their cryptocurrency exposure effectively.
