FTX Launches US Dollar Spot Index Futures

FTX, a cryptocurrency exchange, announced Monday that it is expanding its reach into the realm of foreign exchange derivatives trading by offering a perpetual futures contract linked to a US dollar spot index.
FTX Launches US Dollar Spot Index Futures

While cryptocurrency markets have been stagnant, foreign exchange dealers have recently experienced a surge in volatility.

FTX Launches US Dollar Spot Index Futures
DXY chart. Source: Trading View

As one of the largest cryptocurrency exchanges in the market today, FTX cannot pass up this opportunity.

For the new perpetual contract, the product will be called the FTX Dollar Spot Index, which is designed to track the performance of the top 4 global currencies against the US dollar: the euro, Japanese yen, Canadian dollars and British pounds.

FTX Launches US Dollar Spot Index Futures

Through the new product, perhaps the exchange is enabling traders to short USD to open up a bullish opportunity for BTC.

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