On April 1, 2024, Coinbase will initiate futures trading for Dogecoin, Litecoin, and Bitcoin Cash, as highlighted in their official announcement.

The derivatives trading platform, managed by the cryptocurrency exchange, revealed its plans to start futures trading for Dogecoin (DOGE), Litecoin (LTC), and Bitcoin Cash (BCH) on April 1st. Coinbase Futures are classified as a type of derivative trading instrument. They constitute regulated contracts between two entities, where an agreement is established to buy or sell an asset at a predetermined price on a specified date. This type of trading enables investors to mitigate risks associated with market fluctuations, allowing them to confirm a transaction for a particular cryptocurrency at a set price in the future.

Earlier in the month, Coinbase submitted three letters to the U.S. Commodity Futures Trading Commission (CFTC), detailing the intended contract size, the settlement mechanism using Market Vector’s benchmark interest rate, and the framework for executing these futures trades. The firm also highlighted its approach of self-certification under CFTC Regulation 40.2(a), which streamlines the introduction of new futures contracts without necessitating prior approval from the CFTC, provided the product aligns with the Commodity Exchange Act and corresponding regulations.

Given that all three cryptocurrencies originate from Bitcoin (BTC), which is recognized by the Securities and Exchange Commission (SEC) as a commodity, there are further regulatory implications to consider. James Seyffart, a research analyst focused on ETFs at Bloomberg Intelligence, remarked, ‘I'm curious to see if the SEC will challenge their categorization as "commodity futures" rather than "securities futures." Since they stem from Bitcoin, it would be tough to argue that they should be viewed as securities, especially in light of recent spot Bitcoin ETF approvals. Coinbase's choice might be a tactical one.’

It's quite intriguing... I wonder if there's potential pushback from the SEC regarding the classification of these as 'commodities futures' instead of 'securities futures'. They all evolved from Bitcoin, so it might be difficult to support claims that they are securities post-ETF approvals. Perhaps this is why Coinbase opted for this strategy! 🤔 Meme cryptocurrencies are on an upswing thanks to a surge in prices. This announcement coincides with an increasing focus on meme coins, especially as the crypto market is witnessing a price surge. Although often perceived as lacking fundamental value, these tokens continue to draw attention as speculative assets within their operational ecosystem. Notably, in the last 24 hours, several meme tokens have demonstrated a general uptick in value.

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Alisa is a committed journalist at Cryptocurrencylistings, specializing in the intricacies of cryptocurrency, zero-knowledge proofs, investments, and the broad landscape of Web3. With a sharp eye for emerging trends and technologies, she provides insightful coverage to help inform and engage readers in the swiftly changing world of digital finance. new projects Blum commemorates its one-year anniversary by receiving accolades for 'Best GameFi App' and 'Best Trading App' at the Blockchain Forum 2025. dog-themed Addressing the fragmentation in decentralized finance: An analysis of how Omniston enhances liquidity on the TON network.

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