Leading US Crypto Exchange Coinbase To Offer Bitcoin Futures Product on New Derivatives Exchange


Crypto exchange giant Coinbase is announcing the launch of its first-ever Bitcoin (BTC) derivatives product.

According to a new company blog post, Coinbase’s Derivatives Exchange will launch Nano Bitcoin Futures (BIT), its first listed Bitcoin futures product, on June 27th, with each contract being valued at 1/100th of a Bitcoin.

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“Coinbase Derivatives Exchange, a [Commodity Futures Trading Commission] regulated Designated Contract Markets (DCM) futures exchange, will launch its first listed crypto derivatives product on June 27:

Nano Bitcoin futures (BIT). Initially, BIT futures will be available for trading via several leading broker intermediaries, including [specific] retail brokers [and] clearing firms.”

Coinbase says the size of the contracts is tailored for encouraging retail investors to participate in the crypto futures markets.

“At 1/100th of the size of a Bitcoin, it requires less upfront capital than traditional futures products and creates a real opportunity for significant expansion of retail participation in US regulated crypto futures markets.”

The top US-based crypto exchange also notes that it is awaiting approval from the Commodities Futures Trading Commission (CTFC) to provide derivatives products directly to its clients.

“Coinbase is awaiting regulatory approval on its own futures commission merchant (FCM) license so we can offer margined futures contracts directly to our clients.”

Coinbase first acquired futures exchange FairX earlier this year, eventually transforming it into the Coinbase Derivatives Exchange, saying they have plans to offer all US Coinbase customers crypto derivatives products.

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“Through this acquisition, we plan to bring regulated crypto derivatives to market, initially through FairX’s existing partner ecosystem. Over time, we plan to leverage FairX’s infrastructure to offer crypto derivatives to all Coinbase customers in the US.”

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