📈💰 Coinbase Derivatives Exchange Introduces Game-Changing Bitcoin and Ether Futures for Institutional Investors!
Coinbase Derivatives Exchange, an esteemed futures platform connected to the prominent cryptocurrency exchange Coinbase (COIN), is gearing up to launch a groundbreaking offering designed specifically for institutional investors. The platform will introduce bitcoin (BTC) and ether (ETH) tracked futures, catering to the surging demand from institutional clients. This exciting announcement came through an official press release on Thursday.
Building upon the success of its previous innovation, namely the nano Bitcoin (BIT) and nano Ether (ETI) contracts introduced last year, Coinbase has tailored these new products to meet the unique requirements of institutional investors. The company has observed a growing appetite from this sector, prompting the development of these futures contracts.
The BTI and ETI futures contracts, with contract sizes of 1 bitcoin and 10 ether respectively, will be settled monthly in U.S. dollars. This offering presents a range of opportunities for institutional traders. They can leverage these futures contracts to effectively hedge their market positions, express their long-term market views, and deploy sophisticated trading strategies.
Considering the current market prices, the notional value of the BTI and ETI futures contracts stands at approximately $30,000 and $20,000 respectively. Coinbase is proud to highlight that its offering comes with significantly lower fees compared to traditional alternatives. While specific fee details were not disclosed as of Friday, Coinbase aims to provide institutional clients with cost-effective solutions.
The crypto derivatives market, although largely unregulated, has witnessed exponential growth and garnered substantial popularity. Astonishingly, over the past 24 hours alone, the combined notional volume traded across exchanges has exceeded a staggering $134 billion. Among the diverse array of products in this market, bitcoin and ether tracked offerings contribute to over $25 billion in trading volume, reflecting their immense market presence and relevance.
