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The derivatives arm of cryptocurrency exchange Coinbase has just filed documents with the Commodity Futures Trading Commission (CFTC) to self-certify a list of new futures products tied to five popular crypto assets.
According to the filingsCoinbase Derivatives is launching futures contracts for Avalanche (AVA), Chainlink (LNK), Polkadot (DOT), Stellar (XLM), and Shiba Inu (SHB), which will all go live for trading on or after July 15.
The documents say Coinbase spoke with Futures Commission Merchants (FCMs) and market participants who support the decision to launch the contracts.
“The Exchange is not aware of any material adverse opinions to the Contract. The Exchange confirms that the Contract and the relevant rules adopted thereunder are in accordance with the Commodity Exchange Act and the rules and regulations issued thereunder.”
In a statement, Coinbase Derivatives He says It will be the first futures exchange in the United States to offer margined futures contracts regulated by the Commodity Futures Trading Commission (CFTC) for AVA, LINK, DOT, XLM, and SHB.
“With the addition of AVA, LNK, DOT, XLM, and SHB, participants and their clients gain more access points to manage risk, speculate on price movements, and participate in the crypto economy with reduced initial capital requirements.”
Coinbase derivatives also recently Launched Commodity futures contracts for oil and gold after noting the increased demand for products aimed at individuals on easily accessible and regulated exchanges. The new futures contract sizes are 10 barrels of oil and one troy ounce of gold.
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