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Seeking Alpha 2022-08-25 21:54:43

Coinbase to add retail-focused nano ether futures to its derivatives platform

Cryptocurrency exchange Coinbase Global (NASDAQ:COIN) will add so-called nano ether (ETH-USD) futures contracts to its derivatives platform on August 29 to attract more retail traders, according to a blog post dated Thursday.The move came after the company's derivatives exchange, formerly known as FairX, introduced nano bitcoin (BTC-USD) futures towards the end of June. Those contracts, of which a total of 2.9M have been traded as of August 24, require less upfront capital than traditional futures products."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," the blog read. Similarly, CME Group (CME) said earlier in August that it's set to launch ether (ETH-USD) futures options on September 12, roughly the same time when the ETH blockchain is estimated to transition, or "merge," to a Proof-of-Stake consensus mechanism from Proof-of-Work.Earlier this week, Coinbase rolls out wrapped staked token for ether before merge.

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