Coinbase Chief Executive Officer Brian Armstrong has announced that the company's new US500 index perpetual futures contract, which tracks the 500 largest companies in the United States by market capitalization, has already recorded more than $100 million in 24-hour trading volume. The milestone came just one week after the product went live, and Armstrong characterized the early numbers as showing strong momentum. The US500 contract is currently open for trading to users in the U.S. Armstrong also asked the community to suggest which other perpetual futures index products they would like to see added next. He did not provide additional details about open interest, trading activity breakdown, or a timeline for future listings. The announcement was reported by ChainCatcher, and no further specifics were shared beyond the figures above.
Coinbase CEO Brian Armstrong has disclosed that the exchange's US500 index perpetual futures contract surpassed $100 million in 24-hour trading volume just one week after launch. Armstrong described the early traction as strong.
The contract tracks an index of the 500 largest companies in the United States by market value. Trading is currently open to users in the U.S. Alongside the announcement, Armstrong asked the community for feedback on which other perpetual futures index products they would like to see introduced next. The news was reported by ChainCatcher.
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