Coinbase to Launch Bitcoin Nanofutures

Coinbase to Launch Bitcoin Nanofutures

Coinbase to Launch Bitcoin Nanofutures< /p>

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

Coinbase Derivatives (formerly FairX) will launch contracts with the ticker BIT.

A futures settled in US dollars is equivalent to 1/100 of the value 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.

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

Recall that in March 2022, Coinbase introduced plans to develop a derivatives division.

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

Read ForkLog bitcoin news in our Telegram — cryptocurrency news, rates and analytics.