Coinbase Unveils Innovative Futures Contract Combining Tech and Cryptos
On September 22,Coinbase Derivatives will release the “Mag7 + Crypto Equity index Futures.” This groundbreaking product offers exposure to top U.S. tech stocks and crypto assets in one package.
The index will includetech giants such as Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and tesla. It also features two major crypto ETFs: BlackRock’s iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA), alongside Coinbase’s own shares.
Each component holds an equal weight of 10%, ensuring balanced depiction. The index will undergo quarterly rebalancing to maintain accuracy. MarketVector will serve as the index provider.
Coinbase aims to simplify investment across traditional tech companies and crypto assets. This fusion allows investors to tap into both markets seamlessly, providing a unique diversification opportunity.
The contracts will settle in cash monthly, representing $1 times the index value. For example, if the index hits 3,000 points, one contract equals $3,000.
Initially available to institutional traders, retail access is in the pipeline. This aligns with Coinbase’s vision of becoming a extensive crypto hub.
- Coinbase seeks to broaden access to multi-asset derivatives.
- Australian pension products are under growth as well.
Bloomberg reports that Coinbase plans to target Australia’s pension market. They’re crafting a self-managed superannuation fund,allowing individuals direct control over their retirement investments. Already, over 500 investors are on the waitlist.
