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<\/p>\nOn Monday (June 27), Coinbase Derivatives Exchange, which is \u201ca CFTC regulated Designated Contract Markets (DCM) futures exchange\u201d, is launching Nano Bitcoin futures (BIT), its first crypto derivative product and one that was \u201cbuilt with the retail trader in mind.\u201d<\/p>\n
As you may already know, on January 12, Coinbase announced that it was \u201cacquiring FairX, aCFTC-regulated derivatives exchange\u201d, that this acquisition was \u201ca key stepping stone on Coinbase\u2019s path to offer crypto derivatives to retail and institutional customers in the US,\u201d and that this acquisition was \u201cexpected to close in Coinbase\u2019s first fiscal quarter.\u201d<\/p>\n
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Then, last Friday (June 24), Coinbase published a blog post, in which Boris Ilyevsky, Head of Coinbase Derivatives Exchange, announced that BIT future would be launching on June 27. <\/p>\n
Ilyevsky then provided details on how BIT futures would initially be made available:<\/p>\n
\u201cInitially, BIT futures will be available for trading via several leading broker intermediaries, including retail brokers EdgeClear, Ironbeam, NinjaTrader, Optimus Futures, Stage 5, and Tradovate, and clearing firms ABN AMRO, ADMIS, Advantage Futures, ED&F Man, Ironbeam and Wedbush.<\/em>\u201c<\/p>\n He then mentioned that once Coinbase receives regulatory approval on its own futures commission merchant (FCM) license, it would be able to provide \u201cmargined futures contracts\u201d directly to its clients.<\/p>\n This new product was designed for (advanced\/experienced) retail traders:<\/p>\n \u201cOur BIT Futures contract will offer the same benefits but is built with the retail trader in mind. At 1\/100th of the size of a Bitcoin it requires less upfront capital than traditional futures products and creates a real opportunity for significant expansion of retail participation in US regulated crypto futures markets.<\/em>\u201c<\/p>\n According to this product\u2019s fact sheet, the Coinbase Nano Bitcoin Future is \u201ca monthly cash-settled futures contract that allows participants to manage risk, trade on margin, or speculate on the price of Bitcoin.\u201d<\/p>\n Here are some more details:<\/p>\n According to a press release issued earlier today by MarketVector Indexes GmbH (\u201cMarketVector\u201d), which \u201cdevelops, monitors and markets the MVIS indexes, a focused selection of pure-play and investable indexes,\u201d it has licensed \u201cthe\u00a0MarketVector Coinbase Bitcoin Benchmark Rate (ticker: CBBR)\u00a0and the\u00a0MarketVector Coinbase Ethereum Benchmark Rate (ticker: CETBR), to crypto industry leader Coinbase.\u201d<\/p>\n The press release went on to say that \u201cthese indexes are the first to underlie Coinbase\u2019s Derivatives Exchange\u2019s latest Nano Bitcoin futures contract and future Ethereum product line.\u201d<\/p>\n It is worth pointing out that on May 6, MV Index Solutions GmbH (MVIS), which \u201cdevelops, maintains and licenses the MVIS and BlueStar Indexes\u201d, announced that it had \u201cchanged its name to MarketVector Indexes GmbH (MarketVector), effective 13 April 2022.\u201d<\/p>\n Here is some information about MVIS indexes:<\/p>\n \u201cThe introduction of MVIS\u00ae indexes has expanded VanEck\u2019s successful brand from exchange-traded products to indexes, and the current portfolio of MarketVector indexes reflects the company\u2019s in-depth expertise when it comes to emerging markets, hard assets, fixed income, and special asset classes. Approximately USD 30.86 billion in assets under management are currently invested in financial products based on MVIS\u00ae indexes. MarketVector Indexes is a VanEck\u00ae Company.<\/em>\u201c<\/p>\n Steven Schoenfeld, CEO of MarketVector Indexes, had this to say:<\/p>\n![](\"https:\/\/cryptoglobe.s3.eu-west-2.amazonaws.com\/2022\/06\/Screenshot-2022-06-27-at-10.15.59-1-1280x723.png\")
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