Institutional Investors Get New Tools

Coinbase International Exchange announced on April 5, via an X post, that it will list perpetual futures products for the Ordinals (ORDI) and Worldcoin (WLD) tokens starting April 11.

This addition marks a significant expansion of investment tools available to institutional clients on Coinbase International, allowing them to speculate on two of the most dynamically trading tokens in recent months.

ORDI and WLD have experienced remarkable price movements and trading volumes. ORDI, not officially affiliated with the Bitcoin Ordinals deployer or any of the Ordinals team, soared 1,640% from $5 on November 1, 2023, to a high of $87 by March 5, driven by a surge in interest for Ordinals-related assets.

Meanwhile, Worldcoin, despite its recent introduction, has caught the attention of investors looking to dive into the AI industry, with its price jumping from $2.20 on February 7 to $11.70 on March 10.

"ORDI soared 1,640% from a price of $5 on Nov. 1, 2023, to a high of $87 on March 5 as a frenzy for Ordinals-related assets took off late last year."

The Rise of Perpetual Futures

Friday's announcement is part of a broader strategy by Coinbase to introduce a variety of new perpetual futures contracts to its international platform, catering to institutional investors.

Perpetual futures, also known as perpetual swaps, offer a way for traders to speculate on the future price of an asset without an actual expiration date, enhancing flexibility in investment strategies.

In addition to ORDI and WLD, Coinbase has recently added futures contracts for Wormhole's (W) token and plans for Litecoin (LTC) and Dogecoin (DOGE) futures. These moves underscore the exchange's commitment to diversifying its offerings and providing clients with innovative trading options.

Regulatory Framework and Future Plans

Coinbase has indicated its intention to utilize the "self-certification" method for launching these futures contracts, following regulatory guidelines laid out by the CFTC.

This approach allows the exchange to expedite the introduction of new trading products while adhering to regulatory standards, setting a precedent for future listings and potentially influencing the broader digital assets market.