{"id":33866,"date":"2020-12-23T15:11:09","date_gmt":"2020-12-23T13:11:09","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=33866"},"modified":"2025-08-28T16:00:31","modified_gmt":"2025-08-28T13:00:31","slug":"ftx-launches-pre-ipo-coinbase-stock-price-futures","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ftx-launches-pre-ipo-coinbase-stock-price-futures\/","title":{"rendered":"FTX launches pre-IPO Coinbase stock-price futures"},"content":{"rendered":"<p>FTX&#8217;s derivatives exchange has issued futures contracts on the future price of Coinbase Inc. shares. In the <a href=\"https:\/\/ftx.com\/equities_terms\/KID_CBSE.pdf\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">documentation<\/a> it says that CBSE will allow traders to speculate on the price of the shares before their public listing on the stock exchange (IPO).<!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Coinbase pre-IPO contracts have arrived! Spot margin enabled up to 5x leverage: <a href=\"https:\/\/t.co\/ynQaYOBVSs\">https:\/\/t.co\/ynQaYOBVSs<\/a> <a href=\"https:\/\/t.co\/6ZSyRegQbo\">pic.twitter.com\/6ZSyRegQbo<\/a><\/p>\n<p>\u2014 FTX \u2014 Built By Traders, For Traders (@FTX_Official) <a href=\"https:\/\/twitter.com\/FTX_Official\/status\/1341192438988173312?ref_src=twsrc%5Etfw\">December 22, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>CBSE contracts allow traders to speculate on the price at which Coinbase shares will be listed on the stock exchange. In other words, the futures track the market capitalization of the largest cryptocurrency exchange in the United States.<\/p>\n<p>As of writing, the contracts imply Coinbase&#8217;s market capitalization at around $57.5 billion: the current contract price is about $230, and the maximum market capitalization is estimated at $250 million.<\/p>\n<div id=\"attachment_120383\" style=\"width: 909px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-120383\" class=\"size-full wp-image-120383\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/qm0BhPwV.png\" alt=\"FTX launched Coinbase pre-IPO stock price futures\" width=\"899\" height=\"569\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/qm0BhPwV.png 899w, https:\/\/u1f987.com\/wp-content\/uploads\/qm0BhPwV-300x190.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/qm0BhPwV-768x486.png 768w\" sizes=\"auto, (max-width: 899px) 100vw, 899px\" \/><\/p>\n<p id=\"caption-attachment-120383\" class=\"wp-caption-text\">Data: FTX \/ TradingView.<\/p>\n<\/div>\n<p>The expiration date is the close of Coinbase&#8217;s first trading day on the stock exchange or June 1, 2022, when the contracts will automatically become fractional tokenized shares.<\/p>\n<p>If the listing on the stock exchange does not occur by the specified date, the contracts will settle at a price of $32, with Coinbase Inc. valued at $8 billion.<\/p>\n<p>The contracts also support margin trading with leverage up to 1:5. Within a few hours of listing, trading volume of the contracts stood at around $2.1 million.<\/p>\n<blockquote>\n<p>\u201cSo far, that&#8217;s a fairly decent volume. The Coinbase contracts have been among the most sought-after products,\u201d said Sam Bankman-Fried, CEO of FTX, in a comment to <a href=\"https:\/\/www.theblockcrypto.com\/post\/88851\/ftx-lists-coinbase-pre-ipo-futures-contracts\" target=\"_blank\" rel=\"noopener noreferrer\">The Block<\/a>.<\/p>\n<\/blockquote>\n<p>As of writing, the CBSE daily trading volume had fallen to $230,340.<\/p>\n<p>The exchange announced the listing of new Coinbase contracts a week earlier, alongside a similar product for Robinhood. This is the second such product from FTX after Airbnb.<\/p>\n<p>Coinbase <a href=\"https:\/\/u1f987.com\/en\/news\/coinbase-files-for-ipo\">filed for an IPO<\/a> on December 18. Messari analysts valued<a href=\"https:\/\/u1f987.com\/en\/news\/messari-puts-coinbase-valuation-at-28-billion\"> the potential market capitalization<\/a> of the company after it becomes public at $28 billion.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>FTX&#8217;s derivatives exchange launched futures on Coinbase Inc.&#8217;s future stock price. The contract documentation states that CBSE will allow traders to speculate on the stock price before its public listing on the stock exchange (IPO).<\/p>\n","protected":false},"author":1,"featured_media":33867,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[138,1168,1236,1211],"class_list":["post-33866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-coinbase","tag-crypto-derivatives","tag-ftx","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/33866","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=33866"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/33866\/revisions"}],"predecessor-version":[{"id":33868,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/33866\/revisions\/33868"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/33867"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=33866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=33866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=33866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}