Coinbase Announces New Project That Will Be a First in US History

US-based cryptocurrency exchange Coinbase announced the launch of a new index futures product called “Mag7+ Crypto Equity Index Futures.” This product combines tech giants and crypto-based ETFs into a single index. “For the first time, we are expanding our US derivatives platform beyond single-asset focused products, introducing a new equity index product,” Coinbase said. The new index includes stocks from Apple, Microsoft, Alphabet (Google), Amazon, Nvidia, Meta, Tesla, and Coinbase, as well as BlackRock's spot Bitcoin and Ethereum ETFs. Each component is evenly distributed, with 10% of the index weighting. Related News: Analysis Firm Reveals the Most Critical Level Following Recent Movements in Bitcoin: “This Level is Decisive” Coinbase's move follows a decline in spot trading volume and revenue in the second quarter. The company also plans to expand into new areas like decentralized exchange (DEX) integration and prediction markets. The crypto exchange aims to attract both crypto and traditional finance investors with this product. Trading on the Mag7+ Crypto Equity Index Futures will begin on September 22. *This is not investment advice. Continue Reading: Coinbase Announces New Project That Will Be a First in US History