Gold

Major U.S.-based cryptocurrency exchange Coinbase has announced its plan to launch retail-sized futures contracts for oil and gold, according to a statement by Coinbase Derivatives on Tuesday.
While the exchange’s primary focus remains on crypto derivatives, it is expanding its offerings to include futures contracts for traditional assets. Coinbase Derivatives, which operates under the regulation of the Commodity Futures Trading Commission (CFTC), already provides futures contracts for cryptocurrencies such as bitcoin, ether, bitcoin cash, litecoin, and dogecoin.
Coinbase’s move into oil and gold futures is driven by increasing demand for such products and aims to cater to sophisticated investors looking to hedge their crypto positions. These new futures contracts, sized at 10 barrels of oil and one troy ounce of gold, are set to commence trading on June 3rd, offering users enhanced trading opportunities in traditional markets.
The expansion into commodities futures aligns with Coinbase’s strategy to establish itself as a comprehensive trading platform for its U.S. customers. The exchange has been focused on gaining liquidity and building market share, as evidenced by its recent launch of perpetual futures contracts on the main Coinbase exchange.
While Coinbase has been gradually expanding its futures offerings, the activity on its new markets has been relatively subdued. However, industry analysts anticipate that the introduction of oil and gold futures will further enhance the exchange’s appeal among traders, increasing liquidity and market participation over time.
The post <a href="https://www.unlock-bc.com/123463/coinbase-to-launch-oil-and-gold-futures-amid-growing-demand-for-traditional-assets/" rel="noopener noreferrer nofollow">Coinbase to Launch Oil and Gold Futures Amid Growing Demand for Traditional Assets</a> appeared first on <a href="https://www.unlock-bc.com" rel="noopener noreferrer nofollow">UNLOCK Blockchain</a>.

Coinbase to Launch Oil and Gold Futures Amid Growing Demand for Traditional Assets

UNLOCK_ENG

Other articles published on May 22, 2024

Top Analyst Claims Altseason Will Be Massive and Names These Cryptocurrencies

$BEER, a New Solana-Based Memecoin completes Pre-Sale of 30,000 SOL this week

Tether mints another $1 billion USDT this week; Is a market pump ahead?

WisdomTree Breaks New Ground with UK Approval for Crypto ETPs

Litecoin Tests Ichimoku Cloud’s Lower Boundary

Oracle Protocols: Bridging the Gap Between Blockchain and the Real World

Join our free newsletter for daily crypto updates!