Coinbase, the largest US cryptocurrency exchange, announced in early May that it had opened a derivatives exchange outside the US in Bermuda, amid US regulatory pressure as part of its global expansion efforts.
Making a statement in early May, Coinbase announced that it had launched the Coinbase International Exchange, headquartered in Bermuda.
Stating that this derivatives exchange will be focused on Bitcoin and Ethereum, Coinbase said that traders will be allowed to trade on the price of Bitcoin (BTC) and Ethereum (ETH) through perpetual futures contracts with up to 5x leverage.
In this context, making a statement yesterday, Coinbase stated that they are planning to launch Bitcoin and Ethereum futures contracts on June 5 through the derivatives exchange regulated by the US Commodity Futures Trading Commission (CFTC).
Coinbase added that BTC and ETH futures contracts will be aimed at institutional investors.
Also, stating that these futures contracts will be limited to 1 Bitcoin and 10 Ethereum, Coinbase said that this limitation aims to enable customers to effectively manage their risks in the market.
“Given the institutional demand, our CFTC-regulated derivatives exchange, Coinbase Derivatives, will launch two new futures contracts to enable investors to sensitively manage risk and target attractive returns with lower fees than other U.S.-regulated derivatives exchanges.
In this regard, Coinbase Derivatives Exchange is excited to announce its institutional futures contracts with Bitcoin and Ethereum contracts on June 5.
Leading third-party institutional investors will have access to Coinbase Bitcoin (BTI) and Coinbase Ether (ETI) futures contracts.
BTI and ETI futures in the size of 1 Bitcoin and 10 Ethereum will allow participants to fine-tune their exposure to these growing digital asset commodities, allowing traders to seize opportunities in a highly dynamic market environment. "
*Not investment advice.
