Following various reports about the meteoric price increase of several assets, including stocks of GameStop (GME), AMC Entertainment (AMC) and Dogecoin (DOGE), an index following the assets has been listed by crypto exchange FTX. FTX called the index after Wall Street Bets, which was believed to be associated with the pumping of these asset prices by the Reddit group.
“We’re happy to announce that we have launched trading for a basket of Wall Street Bets markets,” FTX said on Thursday in a public statement. With expiration on March 26, 2021, the index trades as a futures contract.
When asked whether the product is just a short-term deal on FTX, Sam Bankman-Fried, the CEO of the exchange, said it depends. “We’ll see,” he told Cointelegraph. “If there’s enough demand we’ll list Junes!” “We’ll list Junes if there’s enough interest! ”
As cointelegraph.com reported, Bankman-Fried also clarified that the WSB Futures Index Contract is “cash settled vs the index of tokenized share markets on FTX.”
Officially traded under the ticker WSB-0326, the Wall Street Bets, or WSB, index “tracks the price of NOK, BB, AMC, GME, SLV, DOGE, and FTT using a weighed average of their prices,” FTX reports in the exchange description of the product.