Coinbase to Launch Nano-futures on Ethereum

On August 29, Coinbase will launch nano-futures on the second-largest cryptocurrency.

For approval by the CFTC, the bitcoin exchange will offer trading of the instrument through brokers.

Access to the crypto derivatives will be available to clients of EdgeClear, Ironbeam, NinjaTrader, Optimus Futures, Stage 5, Tradovate, ABN AMRO, ADMIS, Advantage Futures, ED&F Man and Wedbush.

The USD-denominated futures contract is worth one-tenth of ETH’s value.

On June 27, the platform began trading nano-futures on Bitcoin. Average daily volume stood at 77,000 contracts.

Coinbase noted that in the future it expects to obtain a Futures Commission Merchant (FCM) licence, which would allow offering such instruments directly to clients.

Earlier, Coinbase unveiled plans to develop its derivatives-related unit.

Earlier, CME announced the start of Ethereum futures options trading from September 12.

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