The cryptocurrency exchange Coinbase is set to launch a futures product that will track the top U.S. tech stocks, cryptocurrency exchange-traded funds, and its own stock, providing exposure to both stocks and cryptocurrencies in a single contract.
Coinbase Derivatives announced on Tuesday that it will launch the "Mag7 + Crypto Stock Index Futures" on September 22, which will track the "Magnificent Seven" tech stocks: Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla, as well as BlackRock's Bitcoin (BTC) and Ethereum (ETH) ETFs and Coinbase stock.
"Historically, there have been no listed derivatives in the U.S. that provide exposure to both stocks and cryptocurrencies in a futures product," the exchange stated, adding that its index will offer exposure to "asset classes that are traditionally traded separately."
This marks Coinbase's first major derivatives initiative since its $2.9 billion acquisition of Deribit in May, previously the largest crypto options and futures exchange. Crypto derivatives trading volume grew by 132% year-on-year last year and is expected to exceed that figure in 2025, with trading volume in the first two quarters already surpassing $20 trillion.
Each component of the upcoming index will be equally weighted at 10%, and the exchange's institutional clients will be the first to gain access to the product.
Details on trading access through partner platforms will be announced soon, and Coinbase plans to offer the product to retail users in the coming months.
The index will be viewed as a monthly cash-settled contract, with each contract representing $1 multiplied by the fund value.
Coinbase stated it will rebalance quarterly to reflect any market changes, with MarketVector serving as the official index provider.
"As part of the everything exchange, we will launch more products like this," Coinbase CEO Brian Armstrong wrote on X on Tuesday.
In mid-July, the company announced plans to become the "everything app" for cryptocurrency, rebranding its Coinbase Wallet to "Base app," aiming to create a platform that combines crypto wallets, trading, payments, social media, and messaging.
We’re launching the first US futures that give exposure to the top US tech stocks and crypto at the same time. We'll launch more products like this as part of the everything exchange. Coming on September 22. pic.twitter.com/iTLSt7a8kx
This comes as trading activity on Coinbase's derivatives platform has rebounded, with daily trading volume consistently exceeding $5 billion over the past month.
On August 25, trading volume reached $9.9 billion—Coinbase data shows this is the platform's strongest single-day performance since at least June 5.
Kraken launched its crypto derivatives platform NinjaTrader on July 15, after acquiring the company for $1.5 billion four months prior.
Kraken stated that this deal will provide its U.S. customers access to the traditional derivatives market, aligning with its broader goal of becoming a one-stop platform for all types of trading.
Related: SmartGold, Chintai to tokenize $1.6 billion in IRA gold
Original article: “Coinbase to Launch Hybrid Crypto and Tech Stock Futures Index”
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