Summary
Luxor and Bitnomial have launched the first US exchange-traded Hashrate Futures, tailored for Bitcoin miners and institutional investors to hedge against price volatility. Set to debut by the end of the month, these contracts reference Luxor’s Bitcoin Hashprice Index and aim to provide revenue certainty for miners while offering investors access to a tradable derivative tracking Bitcoin mining hashrate. Accessible through Bitnomial with FCM accounts, these futures are part of Luxor’s suite of hashrate financial products and are backed by physical delivery. The launch comes ahead of the 2024 Bitcoin Halving and is seen as a significant development in the crypto ecosystem.
Key Points
1. Luxor Technology Corporation and Bitnomial, Inc. have announced the launch of the first US exchange-traded Hashrate Futures, tailored for Bitcoin miners and institutional investors.
2. The Hashrate Futures aim to provide miners with a tool to hedge their future revenue streams and offer investors access to a tradable derivative tracking Bitcoin mining hashrate, denominated in 1 petahash units with monthly durations.
3. Accessible to those with Futures Commission Merchant (FCM) accounts connected to the Bitnomial exchange, the Hashrate Futures is the latest addition to Luxor’s suite of hashrate financial products, providing a unique opportunity for market participants amidst growing interest in the Bitcoin Product Complex.