Coinbase Rolls Out First Crypto Derivative Amid Slump in Tokens
- Its nano Bitcoin futures will represent 1/100th of a Bitcoin
- The contracts will be sold through third-party brokers
Photographer: Rafael Henrique/SOPA Images/LightRocket/Getty Images
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Coinbase Global Inc. will launch its first crypto derivative product on Monday in the midst of the current crypto winter.
Each nano Bitcoin futures contracts (BIT) will represent 1/100th of the token, the biggest US cryptocurrency exchange said in a statement Thursday. The contracts will be accessible for trading only via multiple third-party retail brokers and clearing firms including ABN AMRO and Wedbush.