Crypto exchange activity is declining, with spot trading reaching its lowest levels relative to futures trading since mid-2024. Bitcoin and Ethereum have seen significant drops in their respective spot-to-futures trading ratios, indicating a shift towards more speculative trading. In contrast, Solana is experiencing a slight increase in exchange volume, marking a reversal from its previous trend.

Coinbase is set to introduce its Mag7 + Crypto Equity Index Futures, combining major tech stocks like Nvidia and Google with BlackRock's Bitcoin and Ethereum ETFs. This new product aims to diversify Coinbase's derivatives platform and engage traditional investors through tokenized equities, starting trading on September 22.