Binance Lists 3 ETF-Linked Perpetual Futures With Up to 25x Leverage
Summary
- Binance said it will list three perpetual futures contracts that track the prices of US exchange-traded funds (ETFs).
- MUUUSDT, SOXSUSDT and TZAUSDT perpetual futures will offer leverage of up to 25x.
- Binance is expanding its derivatives listings beyond cryptocurrencies to include products tied to stocks and ETFs.
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Binance, the global cryptocurrency exchange, is listing three perpetual futures contracts tied to the prices of US exchange-traded funds.
BlockBeats reported on July 16 that Binance would launch three TradFi-based perpetual futures products: MUUUSDT, SOXSUSDT and TZAUSDT. The contracts offer leverage of up to 25x.
MUUUSDT is tied to MUU, an ETF from US asset manager Direxion. MUU is a leveraged ETF that aims to deliver twice the daily return of Micron Technology shares.
SOXSUSDT tracks Direxion's SOXS. SOXS is an inverse ETF designed to deliver three times the opposite of the daily return of the NYSE Semiconductor Index.
TZAUSDT is tied to Direxion's TZA. TZA seeks to deliver three times the inverse of the daily return of the Russell 2000, a US small-cap stock index.
Binance has recently been broadening its derivatives lineup beyond cryptocurrencies to include products linked to traditional financial assets such as stocks and ETFs.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul