In the face of market challenges, SHIB plummets to a four-month low, yet trading volume sees growth. Coinbase plans to launch SHIB futures on July 15, pending regulatory approval. Coinbase has announced the upcoming launch of Shiba Inu (SHIB) futures contracts, which have received approval from the Commodity Futures Trading Commission (CFTC), at a time when SHIB’s price is on the decline. Recently, SHIB’s price fell to a four-month low of $0.00001522 and is currently down 8%, trading at $0.00001518, despite a 36% drop over the past month, trading volume has still risen by 35%.
These derivatives are set to launch on July 15, 2024, aimed at enhancing the institutional legitimacy and price discovery capabilities of Shiba Inu. The self-certification mode highlights Coinbase’s confidence in the maturity of its market, potentially paving the way for future Shiba Inu Exchange Traded Funds (ETFs).
This move aligns with the growing investor interest and regulatory efforts to bring stability and transparency to the cryptocurrency market.
**Coinbase’s SHIB Regulatory Filing**
Moreover, the support for the SHIB ETF is quite evident, with over 11,353 signatures petitioning in favor of its establishment. This reflects an increase in community engagement and anticipation for expanding investment channels for digital assets.
