Coinbase To Launch Futures Offering Combined Exposure To ‘Mag 7’ Stocks, Bitcoin And Ethereum ETFs
Brian Armstrong, CEO of Coinbase Global Inc. (NASDAQ:COIN), announced on Tuesday the upcoming launch of a first-of-its-kind futures offering that provides exposure to top U.S. tech stocks and cryptocurrency simultaneously.
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Coinbase’s All-In-One Futures
Armstrong took to X on Tuesday to share the news. The new product, dubbed Mag7 + Crypto Equity Index Futures, will be a hybrid index, composed of “Magnificent 7” stocks, including Apple Inc. (NASDAQ:AAPL), Tesla Inc. (NASDAQ:TSLA), Nvidia Corp. (NASDAQ:NVDA), Coinbase’s own shares, iShares Bitcoin Trust ETF (NASDAQ:IBIT) and iShares Ethereum Trust ETF (NASDAQ:ETHA).
Coinbase said the Index will follow an even-weighting methodology, with each of the 10 components representing 10% of the Index. It will be rebalanced quarterly to reflect market changes. The Mag7 + Crypto Equity Index Futures will be monthly, cash-settled contracts.
The product will be launched on …
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