Updated: June 28, 2024 2:11 PM EDT
Cryptocurrency exchange giant Coinbase is looking to add futures related to popular altcoins to its derivatives exchange.
Coinbase has filed five new filings with the Commodity Futures Trading Commission for futures products involving DOT, SHIB, XLM, AVAX and LINK, according to the company’s website. The exchange scheduled the trading date for the product on or after July 15.
“With the addition of AVA, LNK, DOT, XLM, and SHB, participants and customers will have more access points to manage risk, speculate on price movements, and participate in the crypto economy,” Coinbase said Friday in a release. “This expansion not only diversifies our product line, but also enhances our users’ overall trading experience.”
Among the five tokens, AVAX has the highest market cap at $11.1 billion. AVAX is trading at $28.18 at the time of publication and is up 0.48% over the last 24 hours.
According to The Block’s pricing page, SHIB ranked second among the five stocks with a market capitalization of $10.1 billion, trading at $0.000017, down 2.96% over the same period.
Editor’s note, 2:10 p.m. ET: Headline updated to AVAX.
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About the author
MK Manoylov has been a reporter for The Block since 2020, joining just before Bitcoin first broke $20,000. Since then, MK has written nearly 1,000 articles for the publication, covering all things crypto-related news with a preference for NFTs, the metaverse, web3 games, fundraising, crime, hacking, and stories from the crypto ecosystem. MK holds a graduate degree from the Science, Health, and Environment Reporting Program (SHERP) at New York University, and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and LinkedIn.