Coinbase Files with CFTC to Seek Approval for Chainlink Shiba Inu and Three Other Altcoin Futures Listings
Coinbase’s derivatives division has taken a significant step by submitting documents to the CFTC in order to self-certify the listing of new futures products tied to five popular cryptocurrencies. The filing reveals that Coinbase Derivatives plans to launch futures contracts for Avalanche (AVA), Chainlink (LNK), Polkadot (DOT), Stellar (XLM), and Shiba Inu (SHB) on or after July 15th.
According to the documents, Coinbase has consulted with futures commission merchants (FCMs) and market participants who are in favor of this decision. The exchange is confident that the listed contracts comply with the Commodity Exchange Act and the applicable rules and regulations.
Coinbase Derivatives proudly claims to be the first futures exchange in the US to introduce CFTC-regulated margined futures contracts for AVA, LNK, DOT, XLM, and SHB. By offering these contracts, Coinbase aims to provide more opportunities for its participants and their clients to manage risk, speculate on price movements, and engage in the crypto economy with reduced upfront capital requirements.
In addition to this development, Coinbase Derivatives has recently expanded its offerings by launching commodities futures contracts for oil and gold. This decision was driven by the growing demand for retail-focused products on accessible and regulated exchanges. The new futures contracts have been sized at 10 barrels of oil and one troy ounce of gold.
As Coinbase continues to make strides in the derivatives market, it remains committed to providing a wide range of investment options to its users. Investors are advised to conduct thorough research and exercise caution before making any high-risk investments in Bitcoin, cryptocurrencies, or digital assets. It is important to note that all transfers and trades are conducted at the individual’s own risk, and any losses incurred are solely their responsibility. The Daily Hodl, while participating in affiliate marketing, does not offer investment advice or recommend the buying or selling of any cryptocurrencies or digital assets.
