Coinbase Launches Solana, Hedera Futures Contracts for US Merchants

Coinbase announced on Tuesday that its derivatives exchange now offers futures contracts for Solana ( SOL ) and Hedera ( HBAR ), expanding its product line to include more cryptocurrencies with pending U.S. applications for spot ETFs.

Regulated by the CFTC, Coinbase said in a blog post that the bank’s compounds arm now offers future arrangements for 19 total resources, including Dogecoin, Litecoin and silver, among other currencies.

Solana, Hedera, Dogecoin, and Litecoin are part of an emerging civilization by blockchain and more conventional financial services organizations to tackle soaring desire for crypto-focused purchase products. In recent weeks, these companies have submitted a flurry of applications for spot crypto ETFs, a result of the more crypto-friendly policies of the new Trump administration.

Applications for Solana ETFs were weighed by the Securities and Exchange Commission last week. Beyond Bitcoin and Ethereum in the U.S., the filings could broaden investors ‘ options on both a retail and institutional level.

The SEC’s deadline for these applications can be extended by up to 240 days. Still, the regulator’s timeline begins with a 21-day review period, meaning it may conclude next month.

The link between Coinbase’s new futures contracts and the CFTC is notable. In a 2023 lawsuit against Coinbase, the SEC alleged that Solana traded on its platform as a security, which should be subject to the SEC’s rules and disclosure regime.

The SEC is now considering its strategy for the digital assets industry in light of Gary Gensler’s resignation as former SEC chair. In light of conflicting digital asset rulings, the SEC has pledged to work with the CFTC to establish clear crypto rules, but the lawsuit against Coinbase has been halted until a higher court can hear it.

Coinbase’s ability to offer regulated futures products for Solana may bear on the agency’s decision. The SEC has evaluated the existence of a regulated futures market in its approval of spot Ethereum and Bitcoin ETFs to address concerns about fraud and market manipulation.

” All commodity-based ETPs, ]or ] exchange-traded products, have had a regulated futures market”, Bitwise CIO Matt Hougan told earlier this month.

With the SEC shifting its approach to crypto, regulated Solana futures in the U. S. may not change much, according to Gabe Shelby, head of research at CF benchmarks.

The company offers reference rates for the Bitcoin and Ethereum derivatives on CFTC-regulated platforms like the Chicago Mercantile Exchange, and Shelby told that the SEC’s framework for approving crypto-focused ETFs may change.

” It’s very likely that we will reach a point where it’s not entirely necessary to launch additional tokens,” he said. ” That’s a real possibility with this new regime”.