On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
No sign of an ETF launch approval in the U.S. as yet, with Europe soon to see a pioneering Bitcoin futures product.
Europe's first ever Bitcoin (BTC) futures will launch next month on the continent's largest derivatives market, Eurex, an announcement confirms.
In a press release issued Aug. 24, digital asset-backed securities provider ETC Group said that its Bitcoin ETN Futures product will commence trading Sep. 13.
Europe highlights "growing institutional demand"
ETC Group already operates the world's first centrally-cleared Bitcoin exchange-traded product (ETP), known as BTCetc Physical Bitcoin (BTCE).
Launched in June 2020 on Deutsche Boerse, there are now several crypto ETPs from the firm, three of which will also begin trading on the Wiener Boerse — Vienna's stock exchange — in future, Cointelegraph reported.
The moves come amid increased investor demand for institutional products tied to Bitcoin and altcoins, with Europe traditionally providing a friendlier environment than the United States, which is dragging its heels over approval of a Bitcoin exchange-traded fund (ETF).
Eurex will thus host the first European futures contract based on a crypto ETP from next month.
"Given the growing institutional demand for secure exposure to Bitcoin, we are delighted to begin listing these Bitcoin ETN futures on our regulated trading and clearing infrastructure at Eurex," Eurex executive board member Randolf Rolf commented.
"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."
Bitcoin traded at $49,700 at the time of writing, down around 1% on the day after briefly passing the $50,000 mark.
Mixed institutional sentiment lingers
As Cointelegraph noted, institutional investor sentiment is slowly returning to favor crypto portfolio exposure.
Related: Pro traders are mildly skeptical about Bitcoin’s recent return to $50K
That said, institutional instruments such as the Grayscale Bitcoin Trust (GBTC) have lagged behind surging spot prices, signalling that uptake is not yet back at bull market levels seen before Bitcoin's all-time highs in April.
The GBTC premium — the additional cost of the Trust's shares compared to BTC spot price — continues to hover in negative territory, equating to the shares trading at a discount.
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