Coinbase will debut a new futures product later this month that blends exposure to US tech giants with crypto assets, marking its most ambitious push into derivatives since acquiring Deribit earlier this year.
Coinbase Derivatives announced Tuesday that the “Mag7 + Crypto Equity Index Futures” will launch on Sept. 22. The contract will track the so-called “Magnificent 7” tech stocks — Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta and Tesla — alongside BlackRock’s Bitcoin and Ether ETFs, as well as Coinbase’s own shares.
The exchange said the product represents the first US-listed derivative offering exposure to both equities and cryptocurrencies in a single futures contract. Each component will carry a 10% weighting, with contracts cash-settled monthly and sized at $1 multiplied by the fund. MarketVector, a subsidiary of VanEck, will serve as the official index provider, and the basket will be rebalanced quarterly.
Institutional clients will gain initial access, with retail availability to follow through partner trading platforms. Coinbase emphasized that the product is designed to meet rising demand for instruments that bridge traditional and digital markets, adding that derivatives volume across crypto markets rose 132% year-over-year in 2024 and is on track to surpass that in 2025.
The launch comes amid a surge in derivatives trading on Coinbase’s platform. Daily volumes have consistently exceeded $5 billion in recent weeks, with a record $9.9 billion traded on Aug. 25.
CEO Brian Armstrong framed the new index as part of Coinbase’s broader strategy to evolve into an “everything exchange.” The company rebranded its Coinbase Wallet to “Base app” in July, signaling ambitions to create a platform that combines trading, payments, messaging and social features under one roof.
Rival exchange Kraken is also moving deeper into derivatives. It launched NinjaTrader on July 15 after acquiring the firm for $1.5 billion earlier this year, giving US customers access to both traditional and crypto derivatives.
Coinbase’s new futures index highlights how exchanges are experimenting with hybrid products that blend Wall Street favorites with crypto assets, appealing to traders seeking cross-market exposure in a single vehicle.
