Crypto exchange Coinbase (COIN) is adding what it calls nano ether futures contracts to its derivatives platform on Monday.
"While still in its early stages, we believe that product innovation and an accessible entry point for the retail market have contributed to its success," Boris Ilyevsky, head of Coinbase’s derivatives exchange, said in a blog post Thursday.
The addition of nano ether (ETH) futures comes just two months after Coinbase began offering nano bitcoin (BTC) futures to its retail clientele.
“At 1/100th of bitcoin, our nano bitcoin futures contract requires less upfront capital, allowing participants to easily go long or short the price of bitcoin and manage risk in volatile markets,” he added.
In addition to expanding retail derivative trading offerings, Coinbase's move also comes ahead of the Ethereum Merge as traders seek to make bets and manage risk around the event. Derivatives marketplace Chicago Mercantile Exchange (CME) recently said it plans to begin offering options for ether futures on Sept. 12.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.