Coinbase Derivatives Exchange Launches “Institutional Size” Bitcoin (BTC) and Ethereum (ETH) Futures Contracts
Leading U.S. crypto company Coinbase says its derivatives exchange is preparing to launch “institutional-size” Bitcoin (BTC) and Ethereum (ETH) futures contracts next week.
Coinbase Derivatives Exchange plans to make the contracts dubbed Coinbase Bitcoin (BTI) and Coinbase Ether (ETI) available on Monday, June 5, according to a new press release.
BTIs and ETIs are settled in US dollars and represent 1 Bitcoin and 10 Ethereum per contract, respectively.
Boris Ilyevsky, the head of Coinbase Derivatives Exchange says:
“In addition to risk management and improved precision, these institutional contracts require significantly lower fees than traditional offerings, allowing institutions to maximize their capital efficiency. By reducing trading costs, Coinbase Derivatives Exchange seeks to create an environment that encourages greater accessibility and participation, ultimately benefiting the entire crypto ecosystem.
We have partnered with institutional-leading Futures Commission Merchants (FCMs), brokers and front-end providers to further support institutional clients and provide seamless access to these futures contracts through their robust trading platforms.”
Coinbase Derivatives already offers Nano Bitcoin Futures (BIT) worth 1/100th of Bitcoin and Nano Ether Futures (ET) worth 1/10th of Ethereum. The exchange was founded after Coinbase acquired the FairX futures exchange in 2022.
Coinbase (COIN) shares are trading at $64.55 at the time of writing. COIN is up almost 8% in the last five days and over 77% since the beginning of 2023.
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