Major US-based cryptocurrency firm Coinbase says its derivatives exchange is preparing to launch “institutional-sized” Bitcoin (BTC) and Ethereum (ETH) futures contracts next week.
According to a new press release, the Coinbase Derivatives Exchange says it plans to make the contracts, called Coinbase Bitcoin (BTI) and Coinbase Ether (ETI), available on Monday, June 5.
The BTI and ETI will be settled in US dollars and represent one Bitcoin and 10 Ethereum per contract, respectively.
Says Boris Ilyevsky, head of Coinbase Derivatives Exchange,
“In addition to risk management and improved accuracy, these institutional-size contracts come with significantly lower fees than traditional offerings, allowing institutions to maximize their capital efficiency. By reducing trading costs, the Coinbase Derivatives Exchange aims to create an environment that encourages greater accessibility and participation, which will ultimately benefit the entire crypto ecosystem.
We have partnered 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. negotiation”.
Coinbase Derivatives already offers Nano Bitcoin Futures (BIT), valued at 1/100 of Bitcoin, and Nano Ether Futures (ET), with a size of 1/10 of Ethereum. The exchange launched after the FairX futures exchange was acquired by Coinbase in 2022.
Coinbase (COIN) shares are trading at $64.55 as of this writing. COIN is up almost 8% in the last five days and more than 77% since the beginning of 2023.
Don’t miss a thing: sign up to receive crypto email alerts straight to your inbox
Check Price Action
follow us TwitterFacebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investment in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are at your own risk, and any loss you may incur is your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, and The Daily Hodl is not an investment adviser. Please note that The Daily Hodl is involved in affiliate marketing.
Image generated: half way
