4 months ago
Luxor Technology Corporation and Bitnomial launched the archetypal afloat regulated Bitcoin mining derivative merchandise for trading successful the US connected May 28.
The caller merchandise — dubbed Bitcoin Hashrate Futures — aims to summation liquidity and transparency portion reducing counterparty hazard for marketplace participants.
Hashrate Futures, trading nether the ticker $HUP, let miners to hedge their gross and springiness investors a caller mode to entree the Bitcoin mining market.
Each declaration represents 1 petahash (PH) and has a monthly duration. Settlement uses Luxor’s Bitcoin Hashprice Index, which tracks the worth of hashrate, a integer commodity cardinal to the contracts.
Luxor’s Head of Derivatives Matt Williams said:
“Hashrate Futures are the pinnacle of Bitcoin mining hedging products. These contracts, the archetypal afloat regulated Bitcoin mining derivative, volition usher successful a caller epoch of hashrate trading that is much transparent, secure, and liquid.”
Luxor and Bitnomial designed the merchandise for accessibility, allowing anyone with a Futures Commission Merchant (FCM) relationship connected to the Bitnomial speech to commercialized the product.
Luxor besides established an Introducing Broker (IB) concern to assistance firms onboard to these FCMs. Hashrate Futures complement Luxor’s suite of hashrate fiscal products, including physically delivered and non-deliverable Hashrate Forwards.
Bitnomial laminitis and CEO Luke Hoersten said:
“The mining assemblage has shown unprecedented request for a futures merchandise fungible with Luxor’s spot and forwards offerings. Hashrate Futures supply a caller hedging method for Bitcoin miners and organization investors, gathering the increasing request for crypto-based derivatives.”
Bitnomial’s unsocial presumption successful the Bitcoin derivatives marketplace offers physically-backed contracts, allowing traders to redeem them for bitcoin alternatively of fiat.
Exchange information indicates that Bitnomial Bitcoin Futures volumes and unfastened involvement deed all-time highs successful the archetypal 4th of 2024, reflecting the increasing involvement successful physically-backed Bitcoin fiscal products.
The summation of Hashrate Futures enhances Bitnomial’s broad Bitcoin derivatives complex, which includes Bitcoin Futures, Options, Deci Futures, and present Hashrate Futures. This analyzable offers divers tools for managing hazard and investing successful the Bitcoin market.
The station First-ever Bitcoin mining derivative merchandise goes unrecorded connected a regulated US exchange appeared archetypal connected CryptoSlate.
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