On 2nd June, Coinbase announced that they are ready to launch Bitcoin and Ether futures soon. However, this will only be available to institutional investors. The future contract will be offered as 1 BTC and 10 ETH. According to the exchange, the future contracts will be launched on the 5th of June.
The purpose of this sizing is to help clients efficiently handle their market exposure. The exchange decided to launch these products based on the feedback received after introducing its nano Bitcoin futures and nano Ether futures contracts.
Futures Come With Lower Fees
Coinbase is known for quite high fees in its platform. However, Coinbase has said that it will be offering quite lesser fees on BTC and ETH futures the exchange has not provided much detail on it. The exchange also said that they are focused to cater to the specific needs of the customers by offering them personally tailored solutions.
Coinbase seems to be on the track of expanding its business internationally. On May 2, the exchange launched a derivative exchange in Bermuda offering users upto 5x times leverage on Bitcoin and Ethereum perpetual future contracts. The exchange has taken all these steps to stay distant from their home country amidst the ongoing regulatory uncertainty in the United States.
Coinbase also filed a petition for this issue but the regulator told the exchange that they are currently in the lawmaking process which can take several years to implement. The watchdog also added that they are not in hurry about this and the pressure from exchanges like Coinbase is practically of no use to change their mind.