Coinbase to Launch DOGE, LTC, and BCH futures
The exchange has filed a notice with the US Commodity Futures Trading Commission
21.03.2024 - 12:25
169
3 min
0
What’s new? US crypto exchange Coinbase’s derivatives trading platform will launch cash-settled futures contracts for Dogecoin (DOGE), Litecoin (LTC), and Bitcoin Cash (BCH) on April 1. It has filed the relevant notices with the Commodity Futures Trading Commission (CFTC) on a form that allows new offerings to be launched without the approval of officials, as long as they are guaranteed to comply with the Commodity Exchange Act and CFTC rules.
Applications for DOGE, LTC, and BCH
What else is known? All three of Coinbase Derivatives’ proposed crypto derivatives are derived from bitcoin, which the CFTC previously recognized as a commodity. However, industry experts believe that the launch of the futures may raise some questions regarding the regulation and classification of these tokens.
Bloomberg analyst James Seyffart wonders whether the Securities and Exchange Commission (SEC), with which Coinbase is currently in litigation, would object to the fact that the exchange’s proposed products would be classified as commodity futures rather than securities.
However, he believes that the SEC will have a hard time making a claim after it approved spot bitcoin exchange-traded funds (ETFs) and called BTC a commodity (rather than a security), given that DOGE, LTC, and BCH also use its technology at their core, and the latter is a fork of the Bitcoin network. Seyffart also suggested that Coinbase chose these assets for this reason.
CFTC chair says risks of launching spot BTC ETFs in the absence of crypto regulation
According to Rostin Behnam, officials still have no mechanisms in place to ensure customer protection
Coinbase previously held a meeting with the SEC over investment firm Grayscale’s application to launch an Ethereum-based spot exchange-traded fund (ETF), where it urged officials to classify ETH ETF shares as exchange-traded commodity shares. So far, the SEC has not allowed any spot ETH ETF to enter the market.
Amid the exchange announcement, all three altcoins showed gains. DOGE, LTC, and BCH added 13%, 5,2%, and 4,7% respectively over the day.
Useful material?
Telegram 
Twitter Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Technologies
The company also unveiled its own blockchain adoption index
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$90 707
BTC
-0.37%
-
Ethereum
$3 109.12
ETH
-2.38%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.09
XRP
+2.04%
-
Dogecoin
$0.3662
DOGE
-2.67%
-
Cardano
$0.7226
ADA
-4.03%
-
Bitcoin Cash
$440.72
BCH
-0.71%
-
Polkadot
$5.54
DOT
+3.07%
-
Litecoin
$88.83
LTC
+1.89%
-
Stellar XLM
$0.196812
XLM
+18.12%