Coinbase, the largest cryptocurrency exchange in the U.S., is getting into derivatives. Their new “Nano” (BIT) bitcoin futures contracts are expected to begin trading on the Coinbase Derivatives Exchange (formerly FairX) on Monday, June 27.

Coinbase said it’s new futures contracts will each be sized at 1/100th of a bitcoin and will require less upfront capital than traditional products.

Coinbase acquired FairX, a Commission-regulated Commodity and Futures Derivatives Trading Exchange, in January of this year aiming to jump into the lucrative crypto derivatives market.

Coinbase is awaiting approval for a license to operate as a futures commission merchant, which will enable it to offer its clients margined futures contracts directly.

The BIT contract will become Coinbase’s first listed crypto derivatives product, and represents a significant expansion for the company in the retail crypto marketplace.

According to research firm CryptoCompare, the derivatives market now represents 61.7% of the total crypto market. Coinbase will be competing with companies such as Binance, whose current share of total derivatives volume is 58%.

Coinbase has suffered several setbacks recently with steep declines in the crypto market as well as highly publicized staff layoffs.