Crypto exchange giant Coinbase announces the launch of its first Bitcoin (BTC) derivative product.
According to a new blog post from the company, the Coinbase Derivatives Exchange will launch Nano Bitcoin Futures (BIT), its first listed Bitcoin futures product, on June 27, with each contract valued at 1/100 of Bitcoin.
“Coinbase Derivatives Exchange, a Designated Contract Markets (DCM) futures exchange regulated by the [Commodity Futures Trading Commission], will launch its first listed cryptocurrency derivatives product on June 27:
Nanobitcoin futures (BIT). Initially, BIT futures will be available to trade through a number of leading brokers, including [specified] retail brokers [and] clearing companies.”
Coinbase says that the size of the contracts is designed to encourage retail investors to participate in the cryptocurrency futures markets.
“At 1/100th the size of a Bitcoin, it requires less initial capital than traditional futures products and creates a real opportunity for significant retail share expansion in regulated US crypto futures markets.”
The major US-based cryptocurrency exchange also notes that it is awaiting approval from the Commodity Futures Trading Commission (CTFC) to provide derivative products directly to its clients.
“Coinbase is awaiting regulatory approval of its own futures commission market (FCM) license so that we can offer margin futures contracts directly to our clients.”
Coinbase first acquired futures exchange FairX earlier this year, eventually turning it into the Coinbase Derivatives Exchange, saying it has plans to offer all Coinbase customers U.S. cryptocurrency derivatives products.
“Through this acquisition, we plan to bring regulated cryptocurrency derivatives to market, initially through FairX’s existing partner ecosystem. Over time, we plan to leverage the FairX infrastructure to offer crypto derivatives to all Coinbase customers in the US.”
Leading US Cryptocurrency Exchange Coinbase to Offer Bitcoin Futures Products on New Delivery Exchange
Cryptocurrency exchange giant Coinbase announces the launch of its flagship Bitcoin (BTC) derivative product.
In a new company blog post, contract exchange Coinbase launched Nano Bitcoin Futures (BIT), its first listed Bitcoin futures product, on June 27, each valued at 1/100 of Bitcoin.
“Coinbase Derivatives Exchange, a Designated Contract Markets (DCM) futures exchange regulated by the [Commodoss Futures Basic Trading Commission], launches its first listed crypto derivatives product on June 27:
Nanobitcoin futures (BIT). Initially, BIT futures will be available to trade with various leading brokers, including smaller [specific] clearing companies.”
Coinbase says that the size of the contracts is designed to encourage retail investors to participate in the crypto futures markets.
“At 1/100 the size of a Bitcoin, it requires less initial capital than traditional futures products and creates a real opportunity for significant minority share expansion in US regulated crypto futures markets.”
The leading US-based crypto exchange is also awaiting approval from the Commodity Futures Trading Commission (CTFC) to supply products directly to its clients.
“Coinbase is awaiting regulatory approval of its own futures commission merchant (FCM) license so that we can offer margin futures contracts directly to our clients.”
Coinbase first acquired FairX Futures Exchange earlier this year and eventually became Coinbase Derivatives Exchange, saying it plans to offer all Coinbase US customers crypto output products.