Coinbase is looking to gain regulatory approval to launch futures contracts for Cardano (ADA) and Natural Gas (NGS). This initiative aims to broaden its offerings in both the energy and crypto derivatives markets.
Coinbase Derivatives, the company’s futures exchange, announced that it has submitted the necessary documentation to the Commodity Futures Trading Commission (CFTC) for self-certification of these futures.
Self-certification allows Coinbase to claim compliance with regulatory standards, speeding up the launch process unless the CFTC raises any concerns. If approved, future contracts for ADA and NGS are expected to be available by March 31.
This move follows the recent launch of futures contracts for Solana (SOL) and Hedera (HBAR). Coinbase aims to provide traders with access to both crypto and traditional futures trading on a single regulated platform.
Cardano is a leading blockchain platform recognized for its scalability, sustainability, and security. Its growing ecosystem, including decentralized finance (DeFi), non-fungible tokens (NFTs), and enterprise solutions, makes it a suitable addition to Coinbase’s offerings.
The ADA futures will allow traders to engage with Cardano’s price movements without needing to own the asset. This feature supports advanced risk management and leveraged trading strategies. Following the announcement, ADA’s price increased by about 2%, reaching $0.75.
The introduction of Natural Gas futures would enable Coinbase to compete with traditional exchanges in the energy sector, which is vital for global markets and economic stability.
While the SEC has been cautious about approving crypto exchange-traded funds (ETFs), the launch of futures contracts could provide a regulated framework for price discovery and risk management. This might encourage the SEC to approve ETFs, especially if futures trading shows market stability.
