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Major cryptocurrency exchange\u00a0Coinbase Global Inc\u00a0<\/strong>COIN<\/span> is bringing a micro sized\u00a0Ethereum\u00a0<\/strong>ETH\/USD<\/span> futures contract to its derivatives platform.<\/p>\n What Happened:\u00a0<\/strong>Coinbase\u2019s Nano Ether<\/strong> futures contract will be accessible for trading on Aug. 29, the exchange said on Thursday.<\/p>\n The contract is a tenth of\u00a0<\/sup>the size of one ETH and offers retail investors the opportunity to trade in the futures market with considerably less upfront capital.<\/p>\n See Also:\u00a0How To Buy Ethereum (ETH)<\/a><\/em><\/p>\n \u201cThis will enable all types of traders to securely access regulated U.S. crypto derivatives markets to express their views or hedge their underlying crypto assets,\u201d said Coinbase in a blog.<\/p>\n In June, the cryptocurrency exchange launched a Nano\u00a0Bitcoin\u00a0<\/strong>BTC\/USD<\/span> futures contract sized at 1\/100th\u00a0<\/sup>of one BTC.\u00a0<\/p>\n Until Coinbase gets approval to operate a futures commission merchant (FCM) to offer futures directly, traders will have to access through retail brokers like EdgeClear, Ironbeam and NinjaTrader or clearing firms such as Wedbush and ABN AMRO.<\/p>\n See Also:\u00a0HOW DOES COINBASE MAKE MONEY?<\/a><\/em><\/p>\n Why It Matters<\/strong>: The launch of an ETH futures contract comes at a time when traders have been more actively speculating on the price of the cryptocurrency as it approaches an important upgrade called the Merge.<\/p>\n Earlier this week, derivatives data showed that ETH traders were\u00a0most bullish<\/a>\u00a0at the $1,600 price level.\u00a0<\/p>\n Price Action:\u00a0<\/strong>At press time, ETH was trading at $1,692, up 2.42% over 24 hours as per data from\u00a0Benzinga Pro<\/a>. COIN shares traded 0.59% lower after hours.<\/p>\n<\/div>\n