Coinbase, the largest cryptocurrency exchange in the United States, has announced its intention to include the popular doggy-themed cryptocurrency Shiba Inu (SHIB) in its futures contracts
The exchange has submitted an official filing to the Commodity Trading Futures Commission (CFTC) in order to commence trading as soon as feasible.
Shiba Inu to be incorporated into futures derivatives contracts by Coinbase
Shiba Inu has received a substantial boost from Coinbase’s recent futures contract filing, which highlights the meme currencies’ increasing influence in the crypto market, despite the current market volatility.
On June 28, Coinbase published an official blog post that included a new list of futures products for its crypto derivatives products. The list includes the second-largest meme coin, Shiba Inu, as well as other prominent cryptocurrencies.
According to the blog, Coinbase is poised to become the first exchange in the United States (US) to provide margined future contracts for Shiba Inu and other cryptocurrencies.
The crypto exchange also submitted its futures derivatives contracts filing to the Commodity Trading Futures Commission (CFTC) on June 28, which included information regarding the terms of the futures contracts, Shiba Inu’s market volatility, compliance with various regulatory conditions, and other aspects of its self-certification process.
With an initial lower capital requirement, the inclusion of Shiba Inu in its new crypto derivatives contracts will enable its participants and clients to more effectively engage with the crypto economy, speculate on price movements, and manage risks. This information was disclosed by Coinbase.
The crypto exchange disclosed that its decision to provide margined futures contracts for Shiba Inu underscored its dedication to meeting the requirements of its extensive user base.
Furthermore, it highlights the exchange’s commitment to consistently offering a wide range of trading options that are both accessible and diverse, which sets it apart from other exchanges in the US-regulated futures market.
Additionally, this new filing is expected to substantially broaden the company’s digital product line, potentially improving the overall trading experience of its users while simultaneously ensuring a secure and dependable trading environment.
Avalanche (AVA), Chainlink (LNK), Polkadot (DOT), and Stellar (XLM) are the other cryptocurrencies that Coinbase will include in its crypto derivatives futures contracts, with the exception of Shiba Inu. In a blog post, Coinbase disclosed that these futures products will commence trading and be officially launched on Monday, July 15.
