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Coinbase all set to launch Nano Ether futures product

Coinbase announced that the Coinbase Derivatives Exchange is all set to launch the Nano Ether futures product (ET) on August 29 via a blog post on August 26. The contract, which is 1/10th of an ether in size, offers a chance to trade the price of a well-known digital asset with less initial investment than conventional futures products.

Boris Ilyevsky, head of Coinbase’s derivatives exchange, stated:

“While still in its early stages, we believe that product innovation and an accessible entry point for the retail market have contributed to its success.”

Coinbase’s action also comes ahead of the Ethereum Merge as traders attempt to place wagers and manage risk surrounding the event, in addition to broadening its retail derivative trading products. The Chicago Mercantile Exchange (CME), a derivatives market, recently declared its intention to start providing options for ether futures on September 12.

This announcement is made prior to the debut of our Nano Bitcoin futures contract, which was made accessible to participants in six retail brokers on June 27 via Coinbase’s CFTC-regulated Designated Contract Market (DCM). Over the last 30 days, that contract has traded 77,000 contracts on average every day.

In order to offer futures to its customers directly, Coinbase Financial Markets is awaiting approval of its application for a licence to run a futures commission merchant (or “FCM”).   This is another step the company has taken to establish a regulated and accessible US market for crypto derivatives.

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