Cryptocurrency Derivatives Series: FTX Unveils Speculative Crypto Index fund

We have an array of derivatives markets for traditional asset classes, such as, from a range of stocks to mortgages, be it ETFs, index funds, index options or hedge funds, etc. Many Wall Street players are now, lined up for such contracts are being designed and developed for bitcoin and other crypto peers and desperately eyeing to obtain regulatory approvals.

A renowned crypto derivatives platform, FTX has unveiled a brand new product which happens to be a speculative index fund called ‘SHIT-PERP’ (Shitcoin Index Perpetual Futures).

They are originally incubated amid the Alameda Research program, the platform provides a wide range of services such as, over the counter (OTC) facilities, futures, options for selective margin trading and spot trading as well. Alameda, which was built, back in 2017, with $100 million USD AUM.

For now, the company has come up with the idea of the index that comprises approximately about 58 altcoins which are having adverse image among the crypto avenues. 

Now, SHIT-PERP will join MID-PERP and ALT-PERP, two other low-cap indexes which are present in the site.

SHIT-PERP has a series of projects which doesn’t have much of the reputation, on the flip side, quite a few projects are quite reputed such as Grin, Waves, and Nano.

Over a recent time period, it becomes abundantly clear as to just how volatile Bitcoin has been as of late, as it dropped to lows of $9,100 last week before surging back to $10,300 level.