Futures that can be used to speculate on Bitcoin price developments are nothing new. Very well, but the new futures contracts from the FTX trading platform, which now offers futures on the Bitcoin hashrate instead of the price. In a blog post today, May 15th, the futures trading platform FTX announced that it had new Bitcoin futures on offer, the performance of which depends on the hashrate and not on the price. More specifically, it’s about the difficulty. FTX’s hashrate futures are futures contracts that track the average mining difficulty day by day and expire over a period of time. Strictly speaking, the exact hashrate is not measured, which would hardly be possible on a daily basis, but rather the difficulty, which in turn allows conclusions to be drawn about the hashrate.
Bitcoin halving makes futures particularly attractive
The Bitcoin Halving that took place this week makes trading with the special futures particularly interesting, as the fluctuation range has increased significantly. While the hashrate or difficulty increased sharply shortly before the halving, it has now made a significant kink. The fututres are not only interesting for speculators, but also for mining companies or related service providers, who can use them to better hedge their risks.