The US-based cryptocurrency exchange Coinbase has announced the launch of a new index futures product called Mag7+ Crypto Equity Index Futures, aimed at combining stocks of leading technology companies and crypto ETFs.
Description of the New Product
Coinbase has introduced Mag7+ Crypto Equity Index Futures as an expansion of its derivatives platform in the US, adding a new product that does not focus solely on single assets. The company emphasized that this move marks an important moment in the development of its product portfolio.
Components of the Mag7+ Index
The index includes stocks from companies such as Apple, Microsoft, Alphabet (Google), Amazon, Nvidia, Meta, Tesla, as well as BlackRock's spot Bitcoin and Ethereum ETFs. Each index component is evenly distributed, with 10% of the total weight.
Coinbase's Strategy and Planned Directions
The launch of the new product comes in the context of declining spot trading volumes and revenue in the second quarter. Coinbase also plans to expand into new areas such as decentralized exchange (DEX) integration and prediction markets. The company's goal is to attract both crypto and traditional finance investors.
The launch of Mag7+ Crypto Equity Index Futures showcases Coinbase's commitment to further development and expansion of its product offerings, as well as attracting new investors to the cryptocurrency market.
