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    Coinbase To Launch Futures Index Mixing Crypto, Tech Stocks

    Cryptocurrency

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    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 Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla, 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.” 

    It marks Coinbase’s first major derivatives move since it acquired Deribit — previously the largest crypto options and futures exchange — for $2.9 billion in May. Crypto derivatives volume rose 132% year-on-year last year, and 2025 is on track to top that tally with the first two quarters seeing more than $20 trillion.

    Retail traders to wait for access

    Each component in Coinbase’s upcoming index will be weighted evenly at 10%, with the exchange’s institutional clients first to have access to the product.

    Details on trading access through partner platforms will be announced soon, with Coinbase planning to make the product available to retail users in the coming months.

    The index will be treated as monthly, cash-settled contracts, with each contract representing $1 multiplied by the fund.

    Kraken, Apple, Google, NVidia, Amazon, Microsoft, Derivatives, Tesla, Futures, Ethereum ETF
    Allocation split of Coinbase’s Mag 7 + Crypto Equity Index Futures. Source: Coinbase

    Coinbase said it will be rebalanced each quarter to reflect any market changes, with MarketVector serving as the official index provider.

    Index part of “everything app” plan, says CEO

    “We’ll launch more products like this as part of the everything exchange,” Coinbase CEO Brian Armstrong wrote to X on Tuesday.

    In mid-July, the company debuted its plans to become a crypto “everything app,” rebranding its Coinbase Wallet as “Base app” with the aim of creating a platform combining a crypto wallet, trading, payments, social media and messaging.

    It comes amid an uptick in trading activity on Coinbase’s derivatives platform, with daily volumes consistently exceeding $5 billion over the past month.

    Related: Uptick in Bitcoin spot trading hints at possible breakout to $119K 

    On Aug. 25, trading hit $9.9 billion — the platform’s strongest single day since at least June 5, Coinbase data shows.

    Daily change in daily derivatives trading volume since June 5. Source: Coinbase

    Rival Kraken makes derivatives bet

    Kraken launched its crypto derivatives platform, NinjaTrader, on July 15, following its $1.5 billion acquisition of the firm four months earlier. 

    Kraken said the deal would give its US customers access to the traditional derivatives markets, aligning with its broader goal of becoming a one-stop platform for all types of trading.

    Magazine: Bitcoin to see ‘one more big thrust’ to $150K, ETH pressure builds: Trade Secrets