Coinbase Derivatives is looking to launch round-the-clock futures trading of bitcoin (BTC) and ether (ETH), the CFTC-regulated futures arm of the crypto exchange announced on Monday.
The exchange plans to offer both large and nano-sized contracts, it said in a press release, for both retail and institutional traders which will be available 24/7 in an effort to bridge the gap between fixed trading hours and the round-the-clock nature of the crypto market, it said.
This gap, Coinbase said, “forces traders to sit on the sidelines during key market moves, limiting their ability to react in real time.”
The exchange is also working on launching perpetual-style futures in the U.S. with long dated expirations.
According to Coinbase, derivatives account for 75% of trading volume globally, making them a “cornerstone” of crypto markets. As a result of that, there has been strong demand from crypto-native U.S. clients for regulated futures.
This launch, which is in partnership with Nodal Clear for CFTC-regulated clearing, represents the first 24/7-available crypto futures in the U.S.
CME Group, the largest traditional derivatives exchange in the U.S., has been offering several different crypto futures, however, those are only available to trade during U.S. trading hours.