Home News Bitcoin dated futures with physical settlement go live on Eqonex

Bitcoin dated futures with physical settlement go live on Eqonex


Eqonex, a Nasdaq-listed provider of digital asset financial services, has introduced a new type of Bitcoin (BTC) investment product. A BTC dated futures contract with a physical settlement.

Eqonex announced the news on Wednesday, explaining that its BTC dated futures are denominated in the USD Coin (USDC) stablecoin and rise in lockstep with the BTC price.

Dated futures, in contrast to perpetual futures, which have no maturity limit, expire at a pre-determined date and time period. Such as every month or every quarter, according to Eqonex. “Any position in a perpetual future remains open until the trader decides to cancel the trade. By executing an offsetting deal, or until the trade liquidated by Eqonex,” according to the company.

The Eqonex BTC dated futures contract ends at 08:00 UTC on the final Friday of the expiry month, according to the statement. With physical settlement taking place immediately on that date. The new BTC futures contract allows users to trade with leverage.

In the “coming months,” Eqonex plans to sell dated futures for additional cryptocurrencies, including Ether (ETH).

Interim CEO of Eqonex Andrew Eldon stated that there is still a “need in the exchange marketplace to better service traders. Who are looking for safe access to traditional financial products and tactics. In order to exploit and hedge against the volatility of the crypto market trading.”

“By providing a licenced crypto exchange and adding institutional-grade solutions to our customers’ toolkits, we are lowering obstacles to the entrance,” Eldon explained.

The disclosure comes shortly after Eqonex stated in December 2021 that it was in strategic talks with third parties. Including the possibility of a merger or takeover. Eldon named interim CEO, succeeding former CEO Richard Byworth, when the company announced the news.

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