One of the largest crypto exchanges, Coinbase, announced that it will launch a Nano Ether futures contract (ET) for retail traders on August 29th.
The contract size will be 1/10th of Ethereum. Coinbase stated in the blog post that the Ether futures contract will open doors for a new opportunity that allows one to trade “the price of a popular digital asset with less upfront capital than traditional futures products.”
Boris Ilyevsky, Head of Coinbase Derivatives Exchange claims that this crypto derivative product is regulated under the U.S. crypto derivatives markets policy.
The launch ET follows the launch of Nano Bitcoin Futures by Coinbase in June, which is tradable by retail brokers and clearing firms via the CFTC-regulated Designated Contract Market (DCM).
Reportedly, Nano Bitcoin Futures contracts, the size of 1/100th of Bitcoin, is trading 77,000 contracts per day on average.
In the announcement, Coinbase also revealed the list of retail brokers to trade Nano Ether futures, which includes EdgeClear, Ironbeam, NinjaTrader, Optimus Futures, Stage 5, and Tradovate.
Apart from this, clearing firms like ABN AMRO, ADMIS, Advantage Futures, Dorman Trading, ED&F Man, Ironbeam, and Wedbush will also make ET available for traders.
Furthermore, Coinbase Financial Markets is seeking approval to acquire a license for a “futures commission merchant (“FCM”) to offer futures directly to our clients”.