A futures product will be launched later this month by Coinbase. Exposure to the top seven US tech stocks will be given by the product, alongside Bitcoin and Ether ETFs.
A futures product is set to be rolled out by crypto exchange Coinbase. The product will track the top US tech stocks, crypto exchange-traded funds, and its own shares in order to have exposure to equities and crypto offered in a single contract.
On Tuesday, it was said by Coinbase Derivatives that the ‘Mag7 + Crypto Equity Index Futures’ are being launched on Sept. 22. These will have the ‘Magnificent 7’ tech stocks of Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta and Tesla tracked, along with BlackRock’s Bitcoin and Ether ETFs and Coinbase’s stock.
It was said by the exchange that, ‘Historically, no US-listed derivative has been there that provides access to both equities and cryptocurrencies within a futures product.’ It was added by the exchange that its index would have exposure given to ‘asset classes that have traditionally traded separately.
This marks the first major derivatives move by Coinbase since Deribit — previously the largest crypto options and futures exchange — was acquired by it for $2.9 billion in May. Crypto derivatives volume had a rise of 132% year-on-year last year, and 2025 is on track for that tally to be topped, with more than $20 trillion having been seen in the first two quarters.
Coinbase’s New Futures Product Puts Institutions First, Retail to Follow
Each component in Coinbase’s upcoming index will have a weight of 10% evenly, and the exchange’s institutional clients will be the first to have the product accessed.
Details on trading access through partner platforms will be announced soon, and the product is planned to be made available to retail users in the coming months by Coinbase.
The index will be treated as monthly, cash-settled contracts, with each contract having $1 represented when it is multiplied by the fund.
It was said by Coinbase that it will be rebalanced each quarter in order for any market changes to be reflected. MarketVector will serve as the official index provider.
Coinbase CEO: Futures Index Is Next Step in “Everything App” Strategy
“We’ll launch more products like this as part of the everything exchange,” Coinbase CEO Brian Armstrong wrote to X on Tuesday.
In mid-July, its plans to become a crypto ‘everything app’ were debuted by the company. Its Coinbase Wallet was rebranded as ‘Base app’ with the aim of a platform being created that combines a crypto wallet, trading, payments, social media, and messaging.
It is coming amid an uptick in trading activity on Coinbase’s derivatives platform. Daily volumes have consistently been exceeded by $5 billion over the past month.
On Aug. 25, $9.9 billion was hit by trading. The platform’s strongest single day since at least June 5, is being shown by Coinbase data.
Kraken Joins Derivatives Race with New Platform Launch
On July 15, its crypto derivatives platform, NinjaTrader, was launched by Kraken, following the firm’s $1.5 billion acquisition four months earlier.
It was said by Kraken that access to the traditional derivatives markets would be given to its US customers by the deal, which is aligning with its broader goal of a one-stop platform for all types of trading being become.
