Crypto Daily｜Coinbase to Launch Mag7 Crypto-Equity Index Futures; BitMine Boosts Ether Holdings to $8.1B

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Coinbase to Launch Mag7 Crypto-Equity Index Futures In ‘Everything Exchange’ Push

Crypto exchange Coinbase is forging ahead with plans to expand its offerings into traditional equities. As part of this move, the exchange plans to launch a derivatives product, which will offer exposure to the ‘Magnificent 7’ (Mag7) stocks and crypto ETFs.

In a blog post, the crypto exchange announced that it is expanding its product suite with the launch of equity index futures, starting with the Mag7 and Crypto Equity Index futures, which will launch on September 22. This will be the first product to offer combined exposure to both traditional equities and crypto ETFs.

Ethereum Foundation to Unload Another 10K ETH Following SharpLink Deal

The Ethereum Foundation (EF) shared in a post on X on Tuesday that it plans to sell 10,000 ETH via centralized exchanges over the next several weeks to support work towards research & developments, ecosystem grants, and related donations.

According to CoinMarketCap, the ETH will amount to roughly $43 million at Tuesday’s prices.

BitMine Immersion Boosts Ether Holdings to $8.1B, With $623M in Cash for More Purchases

BitMine Immersion Technologies (BMMR), the Nasdaq-listed digital asset treasury firm led by Fundstrat's Tom Lee, continued to accumulate tokens as crypto prices fell.

The firm added over 150,000 ETH through last week, according to a Tuesday press release. The purchase brought the company's total holdings to 1,866,974 tokens, worth roughly $8.1 billion at current prices, with around $635 million in cash for further acquisitions, the firm said.

Bitcoin & Ethereum Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF on Tuesday was $332.76 million. The total net asset value of Bitcoin spot ETFs is $143.21 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.45%.

The Bitcoin spot ETF with the highest net inflow on Sep 2 was Fidelity Wise Origin Bitcoin Fund , with a net inflow of $132.69 million. Followed by iShares Bitcoin Trust ETF , with a net inflow of 72.86 million, according to SoSoValue.