Coinbase to launch Mag7 crypto equity index futures

Coinbase Derivatives announced it will launch Mag7 Crypto Equity Index Futures on Sept. 22, offering traders exposure to the performance of the so-called “Magnificent Seven” technology companies through a new regulated product.

The Mag7 index references Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta and Tesla, with CF Benchmarks — a Kraken subsidiary — serving as the index calculation agent. Each futures contract will represent one one-hundredth of the index’s value, according to Coinbase’s announcement.

The contracts will be listed on Coinbase’s CFTC-regulated derivatives exchange, which already offers products tied to bitcoin and ether. Access will be available through futures commission merchants and broker intermediaries.

The move builds on Coinbase’s existing suite of digital asset derivatives, which expanded in 2023 when the company launched bitcoin and ether futures and secured approval to make them available to US retail traders. By introducing an equity-linked benchmark, Coinbase is extending its product set beyond pure crypto markets at a time when derivatives trading remains one of the industry’s fastest-growing segments.

While the Securities and Exchange Commission (SEC) has pursued enforcement actions in the token markets, futures products such as Mag7 fall under the oversight of the CFTC, which has historically been more open to crypto-linked derivatives.

This is a developing story.

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This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication.

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