Breaking: Coinbase Derivatives Exchange To Launch BTC, ETH Futures On June 5

Crypto News: Coinbase, the U.S. biggest crypto exchange on Thursday announced that its derivatives exchange, which is a CFTC regulated futures exchange, will launch Bitcoin (BTC) and Ethereum (ETH) futures contracts on June 5. It added that these products will be available for the institutional investors.

Also Read: Ripple Exec Marks This Crypto Hearing “Crucial” Ahead Of Hinman Doc Release

Coinbase Launches BTC, ETH Futures

As per Coinbase, institutional-sized contracts will be sized at 1 Bitcoin and 10 Ethereum in order to allow its client to manage exposures. The decision to launch these products came after a response the exchange received after the introduction of its nano Bitcoin (BIT) and nano Ether (ET) contracts.

It added that Coinbase Derivatives Exchange will be addressing the needs of institutional investors with innovative solutions.

Earlier, Coinbase announced that it is opening a derivatives exchange in Bermuda and called it a part of its international expansion plan. It also highlighted that initially, the exchange will allow traders to bet on BTC and ETH prices via perpetual futures contracts with 5X leverage. While all the trades will be settled in the Circle’s stablecoin, USDC. Read More Crypto News Here…

Also Read: Ripple Escrow Unlocked; Whales Dump 100 Million XRP

Coinbase’s this move comes in when the crypto exchange is fighting for regulatory clarity around digital assets trading in the U.S. The SEC in reply to the crypto exchange’s petition for a writ of mandamus stated that the rulemaking may take years and they’re in no rush.

The commission mentioned that it will be utilizing enforcement actions in order to provide clarity around the crypto assets.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.