Key takeaway: Coinbase Derivatives will list a new Mag7 + Crypto Equity Index Futures contract on September 22, 2025, billed as the first U.S. derivative to combine exposure to traditional equities and cryptocurrency ETFs in a single, cash-settled futures product.

What’s in the index?

The index tracks 10 components at equal 10% weighting each, rebalanced quarterly:

• “Magnificent 7” tech stocks: Apple (AAPL), Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN), NVIDIA (NVDA), Meta (META), Tesla (TSLA)
• Coinbase Global (COIN)
• Two BlackRock crypto ETFs: iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA)

Index provider: MarketVector. Components may change over time.

Contract specs (at a glance)

• Listing venue: Coinbase Derivatives (U.S.)
• Settlement: Cash-settled
• Tenor: Quarterly contracts
• Contract size: $1 × index level (e.g., a 3,000 index level = $3,000 notional per contract)
• Use cases: Thematic exposure, diversification across asset classes, and multi-asset risk management/hedging.

Why this matters

1. Bridges two markets: For the first time in a U.S.-listed futures product, traders can express a view on mega-cap tech + crypto ETF beta together—useful for portfolios already exposed to both growth equities and digital assets.
2. Capital efficiency: One marginable instrument to implement (or hedge) a macro innovation/growth theme rather than stitching together separate equity and crypto positions.
3. Transparent construction: Equal-weighted basket reduces single-name concentration versus cap-weighted tech indexes while still capturing the most influential growth names; quarterly rebalances keep weights aligned.

Potential strategies & users

• Hedgers: Crypto-native funds long IBIT/ETHA or COIN (or miners holding BTC/ETH proxies) can hedge tech-plus-crypto drawdowns with one overlay.
• Macro/thematic traders: Express a view on “AI + blockchain” risk as a single growth-beta factor.
• Relative-value: Trade spreads versus Nasdaq-100, S&P tech subsectors, or pure-play BTC/ETH futures to isolate crypto-equity correlation or basis dislocations.
• Yield/roll: If term structure develops (contango/backwardation), systematic roll strategies may emerge around quarterly expiries.

Risks to watch

• New-product liquidity: Early days may bring wider bid-ask spreads and shallower order books; position sizing should reflect this. (Liquidity typically matures post-launch.)
• Correlation shocks: During stress, equities and crypto can correlate up, muting diversification benefits.
• Basis behavior: Cash-settled index futures may deviate from spot basket due to carry, ETF flows, and component earnings/events.
• Event risk: Single components (e.g., earnings for NVDA/TSLA or crypto ETF flow shocks) can drive outsized index moves despite equal weighting.

Timeline & next steps

• Announcement date: September 2, 2025
• First trade date (planned): September 22, 2025
• More details pending: Coinbase says further trading access information (partner platforms; retail availability roadmap) will follow.

Bottom line

Coinbase’s Mag7 + Crypto Equity Index Futures create a single-ticket expression of growth-tech plus crypto-ETF beta—a first in the U.S. If liquidity builds, expect this to become a go-to instrument for hedging, macro-thematic positioning, and cross-asset relative value.