Institutional-sized contracts on Coinbase derivatives exchange will be 1 Bitcoin (BTC) and 10 Ethereum (ETH).
On Thursday, Coinbase, the U.S. biggest crypto exchange, announced that its derivatives exchange, a CFTC-regulated futures exchange, will launch Bitcoin (BTC) and Ethereum (ETH) futures contracts on June 5. It added that these products will be available for the institutional investors.
Coinbase Introduces BTC and ETH Futures
To help its clients manage exposures, Coinbase says institutional-scale contracts will be sized at 1 Bitcoin and 10 Ethereum. The exchange decided to provide these products in response to the feedback it received when its nano Bitcoin (BIT) and nano Ether (ET) contracts were first introduced.
It further stated that Coinbase Derivatives Exchange will provide cutting-edge solutions to meet the needs of institutional investors. Coinbase previously announced the creation of a derivatives exchange in Bermuda as a part of its global expansion strategy.
furthermore, the exchange would first permit traders to use perpetual futures contracts with 5X leverage to speculate on the prices of ETH and BTC. In comparison, all transactions will be settled in USDC, the stablecoin of the Circle.
However, Coinbase’s action comes when the crypto exchange is battling for regulatory clarity on the trade of digital assets in the United States.
