The new product, whose contract size is 1/10th of Ethereum, will open new opportunities to trade “the price of a popular digital asset with less upfront capital than traditional futures products.” In a statement, Boris Ilyevsky, head of Coinbase derivatives exchange, said: “While still in its early stages, we believe that product innovation and an accessible entry point for the retail market have contributed to its success.”
Regulated under the U.S. crypto derivatives markets policy, the new Nano Ether Futures Contracts (ET) launch follows the launch of Nano Bitcoin Futures contracts (BIT) in June, which is also tradable by retail brokers and clearing firms via the CFTC-regulated Designated Contract Market (DCM).
Compared to Nano Ether Futures Contracts (ET), Nano Bitcoin Futures contracts (BIT) is 1/100th the size of Bitcoin, and is trading an average of 77,000 contracts per day.
Retail brokers that are due to trade Nano Ether futures include EdgeClear, Ironbeam, NinjaTrader, Optimus Futures, Stage 5, and Tradovate. Clearing firms like ABN AMRO, ADMIS, Advantage Futures, Dorman Trading, ED&F Man, Ironbeam, and Wedbush will also make ET available for traders.
Having launched their Nano Ether Futures Contracts (ET) product, Coinbase Financial Markets is now awaiting regulatory approval to acquire a license for a “futures commission merchant (“FCM”) to offer futures directly to our clients”.
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