Coinbase announced the launch of its innovative Mag7 + Crypto Equity Index Futures, a hybrid futures product that equally tracks ten components: the seven 'Magnificent 7' tech stocks (Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla), Coinbase's own stock, and BlackRock's iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA) ETFs. Each component holds a 10% weighting, with quarterly rebalancing to maintain equal distribution.
The product, set to debut on September 22, represents the first U.S.-listed derivative to combine traditional equities and cryptocurrency exposure within a single futures contract. It will be cash-settled monthly, with each contract's notional value calculated as $1 multiplied by the index value (e.g., $3,000 if the index is at $3,000). Initially available through partner platforms, Coinbase plans to expand access to retail users in the coming months.
This launch builds on Coinbase's recent derivatives expansion, including the July introduction of CFTC-regulated perpetual contracts offering up to 10x leverage on major cryptocurrencies. MarketVector serves as the official index provider for calculation and maintenance.