Quick overview

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Coinbase (COIN) plans to introduce Crypto Equity Index Futures amid exposure to BlackRock’s cryptocurrency exchange-traded funds (ETFs) and the Magnificent 7 tech stocks. Coinbase announced that it will launch a new futures index combining traditional stocks and cryptocurrency products.

The first product offering combined exposure to stocks and ETFs is the Magnificent 7 Crypto Equity Index Futures, scheduled for launch on September 22. For the first time, Coinbase stated, its US derivatives platform will offer more than just single-asset products.

According to Coinbase, “no US-listed derivative has historically offered access to both equities and cryptocurrencies within a futures product.”

The Magnificent 7 + Crypto Equity Index Futures, each with an equal weight of 10%. It includes the Magnificent 7 stocks—Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla—as well as COIN from Coinbase, iShares Ethereum Trust (ETHA), and iShares Bitcoin Trust (IBIT) from BlackRock.

Coinbase added that to ensure all components are equally weighted, the new index will be rebalanced quarterly.

The review process will adjust them, while allocations may fluctuate due to price changes, the exchange stated. It also noted that the index administrator will be MarketVector Indexes, a German firm. This move aligns with Coinbase’s recent strategy to expand its product range. Reports indicate that the company announced plans to launch tokenized stocks in the US in June, joining firms like Robinhood and Kraken.