Top US 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 releaseCoinbase Derivatives Exchange says it plans to make the contracts, called Coinbase Bitcoin (BTI) and Coinbase Ether (ETI), available on Monday, June 5.
BTIs and ETIs are 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 have significantly lower fees than traditional offerings, allowing institutions to maximize capital efficiency. By reducing trading costs, Coinbase Derivatives Exchange aims to create an environment that promotes greater accessibility and participation, ultimately benefiting the entire crypto ecosystem.
We partner with leading institutional FCMs (futures commission merchants), brokers and front-end providers to further support institutional clients, enabling seamless access to these futures contracts through their robust trading platforms.
Coinbase Derivatives already offers Nano Bitcoin Futures (BIT), worth 1/100th of a Bitcoin, and Nano Ether Futures (ET), worth 1/10th of an Ethereum. The exchange was launched after Coinbase acquired futures exchange FairX in 2022.
Coinbase (COIN) shares are trading for $64.55 at the time of writing. COIN is up nearly 8% in the past five days and more than 77% since early 2023.
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