Crypto exchange Coinbase is forging ahead with plans to expand its offerings into traditional equities. As part of this move, the exchange plans to launch a derivatives product, which will offer exposure to the Magnificent Seven (Mag7) stocks and crypto ETFs.
Coinbase Announces Mag 7 Crypto Equity Index Futures
In a blog post, the crypto exchange announced that it is expanding its product suite with the launch of equity index futures, starting with the Mag7 and Crypto Equity Index futures, which will launch on September 22. This will be the first product to offer combined exposure to both traditional equities and crypto ETFs.
Coinbase is looking to diversify its derivatives platform beyond single-asset offerings for the first time, with the launch of this equity index product that provides exposure to several assets. The top crypto exchange added that this product marks the next evolution of its product suite, paving the way for a new era of multi-asset derivatives.
Notably, this move comes amid the crypto exchange’s push to become the ‘everything exchange.’ Last month, it revealed plans to offer tokenized equities and prediction markets in the U.S. Meanwhile, the company recently completed its $2.9 billion acquisition of the crypto options platform Deribit.
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Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several niches. His speed and alacrity in covering breaking updates are second to none. He has a knack for simplifying the most technical concepts and making them easy for crypto newbies to understand.
Boluwatife is also a lawyer, who holds a law degree from the University of Ibadan. He also holds a certification in Digital Marketing.
Away from writing, he is an avid basketball lover, a traveler, and a part-time degen.
