Coinbase Launches Nano Bitcoin Futures

by in Cryptocurrency News

Coinbase

On June 27, Coinbase will launch nano futures for the first cryptocurrency. For CFTC approval, the bitcoin exchange will provide instrument trading through brokers.

Contracts with the ticker BIT will be launched by Coinbase Derivatives (formerly FairX).

Futures with settlements in US dollars is equivalent to 1/100 of the value of the first cryptocurrency.

The crypto derivative will be available to clients of EdgeClear, Ironbeam, NinjaTrader, Optimus Futures, Stage 5 and Tradovate, ABN AMRO, ADMIS, Advantage Futures, ED&F Man, Ironbeam, and Wedbush.

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Coinbase emphasized that in the future they expect to obtain a futures intermediary license (Futures Commission Merchant, FCM). This will allow BIT to be offered directly to customers.

Recall that in March 2022, Coinbase presented plans for the development of a division related to derivatives.

Earlier, the bitcoin exchange announced the closure of the Coinbase Pro platform for professional traders.