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.
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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…
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Crypto And US SEC
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. However, the SEC stated that Chair Gary Gensler’s public statements are not formal guidance nor they are policy statements from the commission.
This suggests that the U.S. biggest crypto exchange will be launching more crypto products globally while seeking clarity in its own nation.
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