CFTC Approves Coinbase to List Dogecoin, Bitcoin Cash, and Litecoin Futures

By: Eva Baxter

The Commodities and Futures Trading Commission (CFTC) has given the green signal to Coinbase Derivatives Exchange to list futures contracts related to Dogecoin (DOGE), Bitcoin Cash (BCH), and Litecoin (LTC). Set to go live for trading on or shortly after April 1, 2024, these contracts have all been approved by the CFTC on March 7.

The news led to the tokens experiencing notable price gains on March 20 - DOGE up 16.1%, BCH up 11.4%, and LTC up 7.8%, with the broader crypto market being up 6.2%. Currently, Coinbase Derivatives has Bitcoin (BTC) and Ethereum (ETH) contracts on offer for both retail and institutional investors, along with crude oil contracts.

However, the decision by Coinbase to list futures for DOGE, BCH, and LTC may have wider implications, primarily because all three digital assets are based on Bitcoin's code, which is now generally accepted as commodity by most regulators.