Regulated SHIB Futures Contracts Could Pave the Way for a Shiba Inu Spot Exchange Traded Fund (ETF)

Crypto YouTuber Altcoin Daily has shared some eye-catching news via a post on X. It concerns the upcoming launch of regulated futures contracts

Crypto YouTuber Altcoin Daily shares some interesting news in a recent post on X. It pertains to the upcoming launch of regulated futures contracts for several altcoins, including Shiba Inu (SHIB). According to the YouTuber, this might clear the path for a Shiba Inu Spot Exchange Traded Fund (ETF).

The futures contracts are being brought to us by Coinbase Derivatives, a subsidiary of crypto exchange Coinbase. The company specializes in offering derivatives products, like futures and options, on a variety of cryptocurrencies. Last week, Coinbase Derivatives applied to the U.S. Commodity Futures Trading Commission (CFTC) for the approval to list futures contracts on SHIB, along with Stellar (XLM), Chainlink (LINK), Polkadot (DOT), and Avalanche (AVAX). These products are slated to list on July 15, 2024.

Altcoin Daily highlights that regulated futures contracts provide investors with greater transparency and security. These products can often pave the way for the launch of spot ETFs for the respective assets. The YouTuber points out in his video how Bitcoin (BTC) and Ethereum (ETH) Spot ETFs were approved on a similar basis, as there were regulated futures contracts for these assets beforehand.

Ethereum ETFs are coming soon

At the moment, there is only one active Spot ETF, which is for Bitcoin. However, Ethereum funds are still in the pipeline, despite initially being approved earlier this year. Many had anticipated the launch of the Ethereum funds this week, following the U.S. Securities and Exchange Commission (SEC) approving all eight 19b-4 filings on May 23.

But some amendments that are required to the S-1 registration forms have caused a delay. ETF expert Nate Geraci now anticipates the funds to become available in two weeks’ time. The SEC has set a deadline of July 8 for the necessary changes to the paperwork to be made. Geraci predicts that ETF issuers will come to an agreement with the SEC by July 12, and the funds will launch the following week.

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