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TipRanks 2022-06-27 12:04:52

Where Does Coinbase’s Bitcoin Futures Offering Fit?

Coinbase (COIN), one of the leading crypto exchanges in the world, has expanded into the crypto derivative market with a product tied to the flagship cryptocurrency, Bitcoin (USD-BTC). It is launching Bitcoin futures contracts on June 27, in a move that marks a diversification of its services beyond spot trading. COIN stock jumped 6.5% to $62.71 on June 24, though it is still down 75% year-to-date. Why Coinbase’s Bitcoin Futures Offering Matters Coinbase is offering what it calls “nano” Bitcoin futures contracts priced at one-hundredth of the flagship cryptocurrency, which is about $210 per contract with Bitcoin at about $21,000.

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