Futures Contracts for Shiba Inu Could Pave the Way for a SHIB Spot ExchangeTraded Fund
The Shiba Inu community is buzzing with excitement following a significant development that could pave the way for a Shiba Inu ETF. Coinbase’s recent pivotal filing has the potential to significantly boost the prospects of an SHIB ETF, eliciting waves of optimism throughout the Shiba Inu community.
Last week, Coinbase Derivatives formally requested permission from the U.S. Commodity Futures Trading Commission (CFTC) to introduce regulated futures contracts for Shiba Inu, alongside Stellar (XLM), Chainlink (LINK), Polkadot (DOT), and Avalanche (AVAX). Pending approval from the CFTC, Coinbase plans to launch these new futures contracts on July 15.
RagnarShiba, an administrator on Shiba Inu’s social media platforms, highlighted Coinbase’s latest move involving the filing of Shiba Inu futures with the CFTC. Investors and enthusiasts alike are closely monitoring the situation, eagerly awaiting the CFTC’s response to Coinbase’s application.
The introduction of regulated futures contracts for Shiba Inu could potentially lay the groundwork for a spot ETF, as noted by Altcoin Daily in its recent analysis. Altcoin Daily emphasized the benefits for U.S. investors, citing enhanced transparency, regulatory oversight, a compliant trading environment, and effective risk management provided by such regulated products. Furthermore, these developments often precede the launch of spot ETFs for the respective assets.
Scott Melker, host of The Wolf of All Streets podcast, underscored the significance of ETF approvals in attracting institutional capital into the cryptocurrency market. Melker pointed out that similar products have already seen success in foreign markets, indicating potential opportunities for U.S. markets to catch up.
Altcoin Daily also drew parallels with Bitcoin and Ethereum, highlighting that ETF approvals for these assets were preceded by the introduction of regulated futures contracts. ETFs offer investors a more accessible avenue to gain exposure to assets, enabling a broader range of investors to speculate on the price movements of Shiba Inu without the need to directly purchase and manage digital tokens.
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Tags: Shiba Inu, SHIB