The Exciting Prospects of a Shiba Inu ETF π
The Shiba Inu community is abuzz with anticipation after a significant development that could pave the way for a Shiba Inu ETF. Coinbase’s recent filing seeking approval has the potential to boost the chances of a SHIB ETF, sparking hope within the Shiba Inu community.
Coinbase Seeks Approval for Regulated Futures π
Last week, Coinbase Derivatives made a formal request to the U.S. Commodity Futures Trading Commission (CFTC) for permission to introduce regulated futures contracts for Shiba Inu, as well as Stellar (XLM), Chainlink (LINK), Polkadot (DOT), and Avalanche (AVAX). The launch of these new futures contracts is slated for July 15, pending approval from the CFTC.
– RagnarShiba, a prominent Shiba Inu social media administrator, drew attention to Coinbase’s recent filing for Shiba Inu futures with the CFTC.
– Investors and enthusiasts are eagerly awaiting the response from the CFTC regarding Coinbase’s request.
Benefits of Regulated Futures for Investors π°
Altcoin Daily has suggested that the forthcoming introduction of Coinbase Derivatives’ CFTC-regulated futures contract for Shiba Inu could lay the groundwork for a spot ETF. The benefits of these regulated futures contracts for U.S. investors are significant:
– Enhanced transparency and regulatory oversight
– Compliance with trading regulations
– Better risk management mechanisms
– Potential for launching spot ETFs for the assets involved
Scott Melker, the host of The Wolf of All Streets podcast, emphasized how the approval of ETFs has attracted institutional investments into the crypto market. He pointed out that similar products already exist in foreign markets, with the U.S. market lagging behind.
Is SHIB the Next Big Thing After BTC and ETH? π€
Altcoin Daily also noted that the approval for Bitcoin and Ethereum ETFs was preceded by the availability of regulated futures contracts. ETFs offer investors an easier way to access assets, enabling a broader spectrum of investors to speculate on Shiba Inu’s price without owning the digital tokens directly.
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