Crypto exchange Coinbase (Nasdaq: COIN) announced on Sept. 2 that it will introduce Mag7 + Crypto Equity Index Futures on Sept. 22, the first U.S.-listed contracts designed to merge equities with cryptocurrency exchange-traded funds (ETFs). The company described the offering as a step toward addressing institutional demand for broader market instruments. Coinbase stated:
Introducing Mag7 + Crypto Equity Index Futures: the first to offer combined exposure to both traditional equities and cryptocurrency ETFs.
The benchmark, developed by Marketvector, will consist of 10 equally weighted components. Included are the “Magnificent 7” technology stocks—Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla—along with Coinbase’s own stock and two cryptocurrency ETFs, the Ishares Bitcoin Trust (IBIT) ETF and Ishares Ethereum Trust (ETHA) ETF.
Coinbase underscored its strategic shift in scope with another comment: “We’re diversifying our U.S. derivatives platform beyond single-asset offerings for the first time, launching a new equity index product that provides thematic exposure to a wide range of innovation and growth assets.” The methodology resets the weights quarterly to ensure balance across the index.
Coinbase’s Mag7 + Crypto Equity Index Futures. Source: Coinbase
The contracts will be monthly and cash-settled, with each one valued at $1 times the index level, making the notional size $3,000 at an index value of $3,000. The firm positioned the launch as a new chapter in product development:
Equity index futures mark the next evolution of our product suite and pave the way for a new era of multi-asset derivatives that broaden access, efficiency, and opportunity for investors.
While some observers may question the challenge of combining volatile digital assets with technology equities, proponents highlight the move as evidence that cryptocurrencies are being embedded into the established financial ecosystem.
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