The Commodities and Futures Trading Commission (CFTC) has greenlit Coinbase Derivatives Exchange’s request to introduce futures contracts linked to Dogecoin (DOGE), Bitcoin Cash (BCH), and Litecoin (LTC). These listings are scheduled to become active and commence trading on or after April 1, 2024, as per the filing. The CFTC's website indicates that all three contracts received certification on March 7.

The news of the approval led to above-average price surges for each of the three tokens on March 20. At the time of reporting, DOGE had surged by 16.1%, BCH by 11.4%, and LTC by 7.8%. In comparison, the overall crypto market saw a 6.2% increase.

Currently, Coinbase Derivatives offers contracts for Bitcoin (BTC) and Ethereum (ETH), catering to both institutional and retail investors, along with crude oil contracts.

Analysts speculate that Coinbase's move to list futures for DOGE, BCH, and LTC could carry significant implications due to their origins. These three digital assets, originally based on Bitcoin's code, are now widely recognized as commodities by most regulators. This development may compel the SEC to distinguish between securities and commodities more clearly.

Scott Johnson, General Partner and General Counsel at Van Buren Capital, believes that Coinbase's applications could mark the beginning of a trend. He suggests that a change in US leadership could attract more applications, indicating that futures listings are a crucial step towards establishing spot crypto ETFs. This sentiment echoes the events surrounding the approval of spot Bitcoin ETFs, which followed a legal battle where the SEC's obstruction was deemed arbitrary by the courts.