Last Updated on June 3, 2023 by Bitfinsider
In response to rising institutional demand following the release of its nano Bitcoin (BIT) and nano Ether (ETI) contracts last year, Coinbase claimed it developed these products.
Institutional traders can hedge market bets, express long-term market views, or use the goods in sophisticated trading methods with the help of the BTI and ETI futures contracts, which are priced at 1 bitcoin and 10 ether per contract, respectively. The contracts will be paid in U.S. dollars each month.
BTI and ETI have a notional value of $30,000 and $20,000, respectively, at the present values.
Although these costs had not been specified as of Friday, Coinbase said that BTC and ETI are available at “significantly lower fees” than comparable traditional products.
According to data, there was over $134 billion in notional volume moved across exchanges in the last 24 hours, with over $25 billion of the volume coming from monitored products for bitcoin and ether. Crypto derivatives markets are a popular, if largely unregulated, sector among participants.
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