Markets
What to know:
- In a dazzling display of market acumen, the Intercontinental Exchange has unceremoniously launched cash-settled cryptocurrency futures linked to no less than seven illustrious CoinDesk indices, including a veritable cornucopia of contracts for that ever-popular trio: bitcoin, ether, and solana, with a dash of XRP and BNB for good measure.
- The new futures, being dollar-settled, have been specifically designed for institutions that wish to dip their toes into the crypto pond without the ghastly inconvenience of actually holding tokens. Who needs the hassle, after all?
- Next on ICE’s grand agenda is the much-anticipated introduction of One Month CoinDesk Overnight Rates USDC futures, pending a thorough regulatory review, of course. Because what better way to bring the chaos of decentralized finance into regulated markets than with some bureaucratic rubber stamping?
HONG KONG – In a move that can only be described as audacious, the Intercontinental Exchange, the proud owner of the New York Stock Exchange, has bravely embarked on trading a new set of cryptocurrency futures tied to CoinDesk benchmarks this week, with grand plans to usher onchain interest rates into regulated markets next.
The contracts made their debut on Monday, following an announcement on January 9-because nothing says ‘we mean business’ like a month-long buildup-and offer cash-settled, U.S. dollar-denominated futures linked to seven CoinDesk indices. Quite the tongue twister!
This includes broad-market products tethered to the CoinDesk 20 and CoinDesk 5 indices, alongside single-asset futures tracking the aforementioned stars of the digital asset arena: bitcoin, ether, solana, XRP, and BNB. A delightful buffet for the discerning investor!
Since the futures settle in dollars rather than delivering actual tokens, they are intended for those splendid institutions that prefer a more genteel exposure to price fluctuations without the operational and custody frictions that typically accompany the wild world of spot crypto. Who wouldn’t want to avoid that mess?
And fear not, for ICE has grand plans afoot! They intend to list the One Month CoinDesk Overnight Rates USDC futures, which will, of course, await the green light from regulatory overlords.
These charming products are crafted to reflect the annualized effective interest rate paid by borrowers in the whimsical realm of decentralized finance markets-an intriguing parallel to how traditional markets engage in their own little dances around overnight benchmarks like SOFR, which artfully helps financial wizards price loans and other dollar-based products.
With such rates products, the conversation is shifting towards crypto as a funding and credit market, where traders can express profound views on borrowing costs and liquidity conditions rather than merely fretting over whether bitcoin will soar to unimaginable heights or plummet into oblivion.
ICE has also boasted about the vast scale already woven around CoinDesk indices, claiming that tens of billions of dollars are tied to these benchmarks. The CoinDesk 20, if you must know, is masterfully designed to represent most of the digital asset market through a meticulously capped market-cap weighted methodology-a true masterpiece of financial engineering.
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2026-02-11 13:59