Cryptocurrency exchange Coinbase announced on Tuesday it’s received regulatory approval to roll out crypto futures to customers in the U.S., and the move could marry two of Bitcoin’s markets in a substantial way while spurring more adoption.

Through its newly registered merchant with the Commodities Futures Trading Commission (CFTC), Coinbase Financial Markets will offer spot crypto trading alongside crypto futures, which serve as the basis for several Bitcoin ETFs in the U.S.

Bitcoin futures ETFs, first launched in 2021, give investors exposure to contracts that trade on CFTC-regulated exchanges. While futures contracts convey the right to buy or sell Bitcoin at a set price in the future, they do not warrant ownership of Bitcoin itself.

Often used by traders to hedge positions or bet on movements in the coin’s price, Bitcoin futures and their associated ETFs are a lackluster way for institutions to gain exposure to Bitcoin, according to MicroStrategy Founder and Chairman Michael Saylor.

“The open secret in this industry right now is futures ETFs aren’t tracking Bitcoin,” Saylor said on the company’s latest conference call. “In fact, they’re underperforming Bitcoin’s

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Author: André Beganski

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