Top US-based crypto firm Coinbase says its derivatives exchange is gearing up to launch “institutional-sized” Bitcoin (BTC) and Ethereum (ETH) futures contracts next week.
According to a new press release, Coinbase Derivatives Exchange says it plans to make the contracts, called Coinbase Bitcoin (BTI) and Coinbase Ether (ETI), available on Monday, June 5th.
BTIs and ETIs will be settled in US dollars and represent one Bitcoin and 10 Ethereum per contract, respectively.
Says Boris Ilyevsky, the head of Coinbase Derivatives Exchange,
“In addition to risk management and enhanced precision, these institutional-sized contracts come with significantly lower fees than traditional offerings, enabling institutions to maximize their capital efficiency. By reducing trading costs, Coinbase Derivatives Exchange aims to create an environment that fosters greater accessibility and participation, ultimately benefiting the entire crypto ecosystem.
We have partnered with institutional-leading FCMs (futures commission merchants), brokers, and front-end providers to support institutional clients further, enabling seamless access to these futures contracts through their robust trading platforms.”
Coinbase Derivatives already offers Nano Bitcoin Futures (BIT), valued at 1/100th of a Bitcoin, and Nano Ether Futures (ET), sized at 1/10th of an Ethereum. The exchange launched after Coinbase acquired futures exchange FairX in 2022.
Coinbase (COIN) shares are trading at $64.55 at time of writing. COIN is up nearly 8% in the past five days and over 77% since the beginning of 2023.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
