A regulated derivatives exchange by cryptocurrency exchange Coinbase will offer Bitcoin (BTC) and Ethereum (ETH) futures for institutional investors starting June 1. Announced in today’s press release.
After issuing Nano Bitcoin (BIT) and Nano Ether (ETI) last year, Coinbase said it created these products to meet growing demand from institutional investors.
BTI and ETI futures contracts are 1 Bitcoin and 10 Ethereum per contract, respectively, and are settled monthly in US dollars, allowing institutional investors to hedge market bets and express long-term market views. You can use this product in your trading strategy.
At current prices, BIT and ETI are worth $30,000 and $20,000 in notional value, respectively.
According to Coinbase, BITs and ETIs are offered at “significantly lower fees” than their predecessors, but the fee was not mentioned as of June 2.
The crypto derivatives market is a popular despite being largely unregulated, with over $134 billion in notional value traded across exchanges in the past 24 hours. Data shows that more than $25 billion (about 3.47 trillion yen) of this is in products linked to Bitcoin and Ethereum.
｜Translation: coindesk JAPAN
｜Editing: Toshihiko Inoue
｜ Original: Coinbase Derivatives Exchange to Offer Institutional Bitcoin and Ether Futures