Coinbase secures CFTC approval to list Dogecoin futures

Coinbase has received approval from the Commodities and Futures Trading Commission (CFTC) to list futures contracts for Dogecoin (DOGE), Bitcoin Cash (BCH), and Litecoin (LTC). The contracts are set to go live and begin trading on or after April 1, 2024. This news has caused a surge in the prices of these tokens, with DOGE up 16.1%, BCH up 11.4%, and LTC up 7.8%. Coinbase Derivatives already offers contracts for Bitcoin and Ethereum, as well as crude oil. The decision to pursue futures listings for DOGE, BCH, and LTC could have wider implications regarding the regulation of these assets. Analysts suggest that by choosing these tokens, which were originally based on the code of Bitcoin, Coinbase is challenging the SEC to differentiate between securities and commodities. This move by Coinbase could be the first of many, paving the way for more applications and potentially leading to the approval of spot crypto ETFs.