Cryptocurrency derivatives exchange FTX has listed a WallStreetBets (WSB) index quarterly futures contract in a bid to capitalize on the retail trading fervor that exploded in recent days.
Announced Thursday via blog post, the basket of markets that make up the contract include stocks being targeted by the Reddit trading group – Nokia (NOK), Blackberry (BB), EMC Entertainment (AMC), GameStop (GME), iShares Silver Trust (SLV) – as well as the dogecoin (DOGE) cryptocurrency and FTX’s native token FTT.
The stocks and DOGE comprise 99% of the index, while FTT accounts for just 1%.
Apparently also caught up in the everyday trading trend is dogecoin, which soared Thursday to new record highs.
“WSB-related stocks have been our most requested products ever,” FTX’s CEO Sam Bankman-Fried told CryptoX via Telegram. “There’s a ton of interest in trading WSB related stocks and [cryptos] right now … the fact that many platforms are having trouble offering them is creating more demand.”
