Coinbase Derivatives has announced the launch of new futures that will blend major tech stocks with cryptocurrency ETFs on September 22.
Launch of New Futures by Coinbase
Coinbase Derivatives is launching the Mag7 + Crypto Equity Index Futures, allowing investors to access various assets. This is the first U.S. futures contract to combine traditional stocks and cryptocurrencies. The launch is expected to take place on September 22.
Structure of the Mag7 + Crypto Equity Index
The new futures contract tracks the Mag7 + Crypto Equity Index, which consists of 10 components: the 'Magnificent 7' (Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, Tesla), along with Coinbase shares and two leading crypto ETFs, iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA). Each component carries a 10% weight and the index will be rebalanced quarterly.
Target Audience and Use of the Contracts
The Mag7 + Crypto Equity Index Futures will be monthly, cash-settled contracts, each representing $1 times the index level. Initially, the product targets institutional players but will eventually expand to retail investors through partner platforms. The benchmark will be administered by MarketVector.
The launch of futures that bridge traditional financial assets with digital currencies highlights the growing interest in combined investment instruments.
