TMX Group Canada to unveil crypto futures product later this year

Posted by Arnold Kirimi,

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In response to institutional investors’ concerns about the risks of trading in a new asset class, TMX Group, Canada’s major stock market operator, has revealed plans to launch its first-ever crypto futures product.

While speaking to Reuters, TMX Group’s John McKenzie said that the firm plans to release the product on the Montreal Exchange later this year. According to Mackenzie, “more institutional investors and dealers are […] holding more crypto assets within their portfolios or for their clients or in ETFs,” adding they are working on how to mitigate risk due to crypto’s huge volatility.

Cointelegraph reached out to TMX Group for more details regarding this development. This article will be updated pending new information.

Cryptocurrency assets have suffered significant drops in recent months as investors sought safer investments amid expectations of interest rate hikes by central banks. They’ve made progress in recovering some of their losses in recent weeks, with Bitcoin (BTC) regaining past the $42K mark and the price of Ether (ETH) pulling back to retest $3,000 support levels…read more.