Coinbase Will Launch Nano BTC Futures Via Derivatives Exchange

Coinbase will launch Nano BTC futures via a derivatives exchange formerly called FairX and will offer futures priced at 1/100^th of a BTC via third-party brokers so let’s read more today in our latest Coinbase news.

Coinbase will launch a Coinbase derivatives exchange formerly known as FairX and will offer futures priced at 1/100^th of a BTC. The retail investors will be able to trade crypto futures via Coinbase on Monday as the biggest exchange in the US by volume will offer them on the Derivatives Exchange Platform. The move came after Coinbase acquired FairX as a part of its goal of offering crypto futures and options trading to customers.
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FairX was selling futures products and was registered with the CFTC which gave Coinbase a running start on the $3 trillion derivatives market.

Coinbase rebranded FairX as the Coinbase Derivatives Exchange and its Nano BTC futures under the ticker BIT which is the first listed derivatives product, as one Coinbase spokesperson added:

 “This is one step to creating a robust and regulated crypto derivatives market.”

If BIT futures are available today, they would be priced at $211 based on the BTC price of $21,000. the Head of Coinbase Derivatives Exchange Boris Ilyevsky stated that FairX brought in a world-class team with some deeper expertise in product development, market structure, and market-leading exchange tech with a proven ability to deliver futures. Coupled with Coinbase’s consumer-friendly interface, the derivatives exchange aims to make the trading of derivatives more accessible.

Futures are one type of derivative financial product with a set date and price in the future at whcih the asset can be sold regardless of the market price at that time. When the SEC allowed a BTC ETF In October, it allowed for a BTC futures ETF and not a spot ETF tied to the current price of BTC. Most traders prefer futures as they allow for around-the-clock trading, and low upfront investment, and the BIT futures contract will also offer the same benefits but will be built with the retailer traders in mind.

The competing exchange FTX is on a similar path after acquiring LedgerX and Binance also offered the derivatives products but pulled back on some markets due to regulatory concerns. It is important to note that the BIT futures won’t be offered directly from coinbase but only from a third-party retail broker and a clearing company. Coinbase BTC futures will be available from companies like IronBeam, NinjaTrader, Stage 5, and Tradovate. Coinbase can’t offer the futures directly until it gets approval for a futures commission merchant license.