Brian Armstrong, CEO of Coinbase Global Inc. (NASDAQ:COIN), announced on Tuesday the upcoming launch of a first-of-its-kind futures offering that provides exposure to top U.S. tech stocks and cryptocurrency simultaneously.
COIN stock is staying put for now. Track the latest developments here.
Coinbase’s All-In-One Futures
Armstrong took to X on Tuesday to share the news. The new product, dubbed Mag7 + Crypto Equity Index Futures, will be a hybrid index, composed of “Magnificent 7” stocks, including Apple Inc. (NASDAQ:AAPL), Tesla Inc. (NASDAQ:TSLA), Nvidia Corp. (NASDAQ:NVDA), Coinbase’s own shares, iShares Bitcoin Trust ETF (NASDAQ:IBIT) and iShares Ethereum Trust ETF (NASDAQ:ETHA).
Coinbase said the Index will follow an even-weighting methodology, with each of the 10 components representing 10% of the Index. It will be rebalanced quarterly to reflect market changes. The Mag7 + Crypto Equity Index Futures will be monthly, cash-settled contracts.
The product will be launched on Sept. 22. Armstrong stated that the company will introduce more such products as part of its “everything exchange” vision.
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Coinbase’s Push Into Derivatives
The announcement comes on the heels of Coinbase’s recent expansion of its perpetual futures offering, adding XRP (CRYPTO: XRP) and Solana (CRYPTO: SOL) to its suite, which already consisted of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH)
Price Action: Coinbase shares rose 0.31% in after-hours trading after closing 0.32% lower at $303.56 during Tuesday's regular trading session, according to data from Benzinga Pro. Year-to-date, the stock has gained 22.26%.
Roundhill Magnificent Seven ETF (BATS:MAGS), which provides equal-weight exposure to the “Mag 7” stocks, closed 1.14% lower at $59.11 on Tuesday. Since 2025 began, the ETF has returned 8.62% on investments.
iShares Bitcoin ETF was up 0.33% after-hours, while iShares Ethereum ETF rose 1.30%.
As of this writing, COIN ranked high on Growth, an indicator of a stock's combined historical expansion in earnings and revenue across multiple periods. Visit Benzinga Edge Stock Rankings to compare it to the “Mag 7” tech giants and the cryptocurrency ETFs.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
