Coinbase Derivatives Exchange Reveals Nano Bitcoin Futures Product

On June 27, Coinbase Derivatives Exchange (formerly Fairx exchange) announced it volition motorboat its archetypal crypto derivatives concern conveyance pegged to the worth of 1/100th of a bitcoin. The caller “nano bitcoin futures” merchandise volition beryllium listed nether the ticker “BIT.” Coinbase derivatives are regulated by the Commodity Futures Trading Commission (CFTC).

Coinbase Introduces BIT, a Futures Product Tied to 1/100th of a Bitcoin

Coinbase is getting into the satellite of crypto derivatives arsenic the Coinbase Derivatives Exchange has announced the motorboat of BIT, a nano bitcoin futures merchandise tied to 1/100th of a bitcoin (BTC). The quality follows Coinbase acquiring the derivatives speech Fairx successful mid-January 2022 arsenic the institution said it would beryllium leveraging Fairx’s speech infrastructure.

“This is an important measurement toward Coinbase yet making the derivatives marketplace accessible to our millions of customers done an industry-leading, simplified idiosyncratic experience,” Coinbase said astatine the time. While the nano bitcoin futures merchandise volition beryllium managed by Coinbase Derivatives Exchange, investors volition get BIT via retail banal brokers connected June 27.

The quality follows a fig of changes Coinbase has been making successful caller times. For instance, connected June 22, the institution revamped the Coinbase wallet successful bid to marque “Web3 much accessible and intuitive.” Furthermore, the time aft revealing the improved wallet, Coinbase explained that it was combining Coinbase Pro (exchange) with the user’s Coinbase account.

“We program to merge the features and interest docket of Coinbase Pro into a caller unified Coinbase relationship that offers our users the prime of an precocious trading acquisition oregon the simplicity of the Coinbase user app,” Coinbase explained. Coinbase won’t beryllium the lone 1 offering nano-styled crypto futures, arsenic CME Group and the FTX-acquired Ledgerx besides supply micro contracts.

CME Group launched micro bitcoin and micro ether futures astatine the extremity of March and each merchandise is 1/10 the size of 1 bitcoin oregon ether. FTX US Derivatives (formally Ledgerx) offers bitcoin mini futures contracts and investors tin enactment with arsenic small arsenic 0.01 BTC. As acold arsenic the Coinbase nano bitcoin futures are concerned, investors volition beryllium capable to get BIT from brokers specified arsenic Wedbush, Edgeclear, Ninjatrader, Ironbeam, Optimus Futures, Tradovate, Stage 5, and more.

What bash you deliberation astir the Coinbase Derivatives Exchange merchandise BIT? Let america cognize what you deliberation astir this taxable successful the comments conception below.