Institutional Bitcoin and Ether Futures Will Be Available on the Coinbase Derivatives Exchange
Beginning June 5, institutional clients can purchase tracked futures for bitcoin (BTC) and ether (ETH) through Coinbase Derivatives Exchange, the company's regulated futures platform.
In response to rising institutional demand following the release of its nano Bitcoin (BIT) and nano Ether (ETI) contracts last year, Coinbase claimed it developed these products.
Institutional traders can use the BTI and ETI futures contracts, which have contract sizes of 1 bitcoin and 10 ether, respectively, and are settled in US dollars monthly, to hedge market bets, express long-term market views, or incorporate the products into sophisticated trading methods.
BTI and ETI have a notional value of $30,000 and $20,000, respectively, at the present values.
Although these costs had not been specified as of Friday, Coinbase said that BTC and ETI are available at "significantly lower fees" than comparable traditional products.