Coinbase Derivatives exchange plans to launch its first listed crypto derivatives products on June 27, 2022.
Nano Bitcoin futures contract, BIT, will have contracts sized at 1/100th of a bitcoin. They will reportedly be accessible through multiple leading third-party retail brokers and clearing companies.
Some retail brokers hosting the BIT features include EdgeClear, NinjaTrader, Ironbeam, and clearing firms ADMIS, ABN AMRO, and Wedbush.
Coinbase’s head of Derivatives exchange, Boris Ilyevsky, says that the firm is reportedly awaiting approval for its license to offer the instruments directly to the clients.
The announcement comes as Futures gain popularity with their 24/7 availability, lower upfront investments, leverage, and the ease of taking long and short positions.
Cryptocurrency derivatives have expanded to reach $3 trillion in volume globally with the expectation that additional product development and accessibility will open substantial growth.
Source: Coinbase
