Coinbase Derivatives has introduced its upcoming Mag7 + Crypto Fairness Index Futures, a product designed to supply buyers simultaneous publicity to each main US expertise shares and digital asset ETFs.
Product overview and goal
The brand new index futures contract combines the so-called “Magnificent 7” tech shares—Apple, Microsoft, Alphabet, Amazon, NVIDIA, Meta, and Tesla—alongside Coinbase inventory and two digital asset ETFs: iShares Bitcoin Belief ETF (IBIT) and iShares Ethereum Belief ETF (ETHA).
This marks the primary time a US-listed spinoff offers unified entry to each equities and bitcoin-linked property in a single contract.
The corporate acknowledged:
“By introducing this contract, we’re providing a diversified, capital-efficient device that gives thematic publicity to innovation & development, diversification in a unified product, and strategic threat administration.”
Index composition and rebalancing
The hybrid index is evenly weighted, with every of the ten elements representing 10% of the basket.
Quarterly rebalancing will guarantee equal weighting is maintained, at the same time as costs fluctuate. MarketVector serves because the official index supplier.
Contract particulars and settlement
Every Mag7 + Crypto Fairness Index Futures contract is month-to-month and cash-settled, with a notional worth of $1 multiplied by the index value.
For instance, at an index worth of $3,000, a single contract can be value $3,000.
Full buying and selling and settlement particulars for retail buyers might be launched within the coming months.
Increasing entry to digital property
The inclusion of the iShares Bitcoin Belief ETF offers oblique publicity to bitcoin’s value motion inside the index.