Tl:dr:
- Coinbase Derivatives Change will launch its second listed crypto derivatives product on August twenty ninth, 2022: Nano Ether futures contract (ET).
- ET futures shall be accessible for buying and selling through a number of main third-party retail brokers and clearing corporations upon its launch.
- Since launching on June twenty seventh, the Nano Bitcoin futures contract (BIT) has traded a complete of two.9MM contracts as of August twenty fourth.
By Boris Ilyevsky, Head of Coinbase Derivatives Change
Coinbase Derivatives Change shall be launching a Nano Ether futures contract (ET) on August twenty ninth as we proceed to construct an accessible futures marketplace for the retail dealer.
Sized at 1/tenth of an ether, the contract unlocks one other alternative to commerce the worth of a preferred digital asset with much less upfront capital than conventional futures merchandise. It will allow all sorts of merchants to securely entry regulated U.S. crypto derivatives markets to specific their views or hedge their underlying crypto property.
This launch follows the introduction of our Nano Bitcoin futures contract, which was made out there on June twenty seventh to the members of six retail brokers by way of our CFTC-regulated Designated Contract Market (DCM). Within the final 30 days, that contract has traded a mean of 77,000 contracts per day.
Whereas nonetheless in its early phases, we imagine that product innovation and an accessible entry level for the retail market have contributed to its success. At 1/one centesimal of Bitcoin, our Nano Bitcoin futures contract requires much less upfront capital, permitting members to simply go lengthy or brief the worth of Bitcoin and handle danger in risky markets.
Just like the Bitcoin contract, the Nano Ether futures shall be made out there for buying and selling through the next retail brokers EdgeClear, Ironbeam, NinjaTrader, Optimus Futures, Stage 5, and Tradovate, and clearing corporations ABN AMRO, ADMIS, Benefit Futures, Dorman Buying and selling, ED&F Man, Ironbeam and Wedbush.
Coinbase Monetary Markets is awaiting approval for its license to function a futures fee service provider (“FCM”) to supply futures on to our purchasers as we take one other step in creating an accessible and controlled U.S. crypto derivatives market.
For extra info on our merchandise, go to coinbase.com/derivatives.
