Coinbase Derivatives will now offer futures contracts for oil and gold trading for retail investors, in addition to the already available CFTC-regulated contracts for Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and Dogecoin.
This decision was made by the exchange after noticing a growing demand for these derivative products. By expanding into traditional commodities, Coinbase aims to provide traders with more opportunities for hedging.
These new offerings include contracts for 10 barrels of oil and one troy ounce of gold, which are currently valued at approximately $780 (for WTI oil) and $2430 respectively.
According to the company, this extension of their product line is a natural progression towards offering a diverse range of investment opportunities for their users. It is worth noting that Coinbase experienced a system-wide failure on May 14 but has assured users that their funds were not affected.
In March, the exchange also faced issues with transaction delays and recording customer balances.
