- Coinbase seeks CFTC approval to launch Cardano (ADA) and Natural Gas (NGS) futures, expanding into crypto and energy markets.
- If the CFTC raises no objections, these futures contracts will go live on March 31, reinforcing Coinbase’s regulated trading offerings.
- ADA futures enable traders to speculate on Cardano’s price without holding the asset, while NGS futures position Coinbase in commodity markets.
Coinbase is seeking approval to list Cardano (ADA) and Natural Gas (NGS) future contracts. This addition of offerings for the energy and crypto markets would be achieved if the U.S. Commodity Futures Trading Commission (CFTC) gives them approval. They would be listed on March 31 if they are approved. This is part of the efforts of Coinbase to cover more traders.
Coinbase Derivatives has submitted self-certification documents with the CFTC for NGS and ADA future contracts. Under the self-certification, the contracts are declared to be in compliance with regulations. Pending no objection from the CFTC, they are set to become live on March 31. Coinbase is further expanding its platform with crypto and traditional future offerings.
One of the leading blockchain platforms with the most scalability, sustainability, and security is Cardano (ADA). With the launch of ADA futures, traders are now able to trade on the price of Cardano without necessarily owning the asset. This opens up the possibility of advanced risk management and leverage.
The current price of Cardano at the time of writing is $ 0.7394 with a 24-hour trade volume of $ 1.82B. It has increased 2.92% within the last 24 hours.
Coinbase’s Bold Move with ADA and NGS Futures
The Exchange is also entering the energy sector with the launch of Natural Gas (NGS) futures. Natural gas is of vital importance to global markets, and Coinbase is looking to capitalize on this commodity. Traders will be able to bet on natural gas prices through the introduction of these futures. This puts the Exchange as a player in crypto as well as energy markets.
The introduction of regulated future contracts would assist the SEC in approving crypto ETFs. Futures contracts provide a secure platform for price discovery and risk management. Grayscale has already applied for a spot in the Cardano ETF, which may be approved in the future. The SEC is keeping close watch on increasing regulatory transparency in such markets.
Coinbase’s entry into listing ADA and NGS futures is one of the biggest forays into the energy and crypto markets. If approved, the contracts take effect on March 31 and change the way traders trade the asset classes. The Exchange is once again positioning itself as the leader at the intersection of traditional finance and digital assets. It is one of the steps towards solidifying its role in the new world of trading.
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