Coinbase Derivatives plans to launch margined futures contracts for Avalanche (AVAX), Chainlink (LINK), Polkadot (DOT), Stellar (XLM), and Shiba Inu (SHIB).

On June 28, they announced the initiative and submitted filings to the CFTC to list each contract under a self-certification model, aiming for a launch on July 15.

Coinbase Derivatives claims to be the first U.S. futures exchange to offer margined futures contracts for these tokens and expressed enthusiasm about enhancing market accessibility.

They stated:

"We are eager to see these derivatives contracts mature in a regulated market."

The company said these contracts will help participants manage risk, speculate on price movements, and invest with lower initial capital requirements. They will collaborate with Nodal Clear, third-party futures commission merchants (FCMs), and retail brokers.

Token prices remained largely unaffected by the news, continuing to follow the broader market downtrend. As of the announcement, LINK was trading at $13.7, down 4.3% over 24 hours, SHIB at $0.00002, down 3.7%, and DOT at $6.19, down 1.9%. XLM fell 0.3% to $0.09, while AVAX rose 0.3% to $27.98.

CoinGecko data showed Coinbase Derivatives had $34.1 million in 24-hour open interest and $971.8 million in 24-hour volume on June 28. The service already offers various contracts, including those for Bitcoin (BTC), Ethereum (ETH), BTC nano, ETH nano, Dogecoin (DOGE), Litecoin (LTC), Bitcoin Cash (BCH), crude oil, and gold.

The U.S.-focused derivatives service operates separately from Coinbase’s international exchange, which launched in Bermuda in 2023, initially focusing on derivatives and later expanding into other trading areas.