Coinbase to launch bitcoin futures through brokerages

By next week, Coinbase will launch its first derivatives product, the “nano” bitcoin futures.

Coinbase Derivatives Exchange — the renamed FairX, which was acquired by Coinbase this year — said, in a blog post, it would “launch its first listed crypto derivatives product on June 27, 2022: Nano Bitcoin futures contract (BIT).”

According Coinbase Derivatives website, the initial offering is a USD-settled index future.

The futures will be available via brokerages rather than through Coinbase itself.

Coinbase explained in the post, adding that it ultimately plans to offer these products directly should it receive approval as a futures commission merchant (FCM) by the Commodity Futures Trading Commission.

Coinbase is also awaiting regulatory approval on its own futures commission merchant (FCM) license.

The licenses will help Coinbase offer margined futures contracts directly to its clients.