Coinbase mixes crypto and tech stocks in upcoming futures index
Coinbase will launch a futures product later this month that will give exposure to the top seven US tech stocks alongside Bitcoin and Ether ETFs.
Crypto exchange Coinbase is set to roll out a futures product tracking the top US tech stocks, crypto exchange-traded funds, and its own shares to offer exposure to equities and crypto in a single contract.
Coinbase Derivatives said on Tuesday it’s launching the “Mag7 + Crypto Equity Index Futures” on Sept. 22, which will track the “Magnificent 7” tech stocks of Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta and Tesla, along with BlackRock’s Bitcoin (BTC) and Ether (ETH) ETFs and Coinbase’s stock.
“Historically, there has been no US-listed derivative that provides access to both equities and cryptocurrencies within a futures product,” the exchange said, adding its index would give exposure to “asset classes that have traditionally traded separately.”