Coinbase has just submitted an application to add futures contracts for the popular altcoins on its derivatives platform.
The exchange has submitted five new applications for futures products linked to DOT, SHIB, XLM, AVAX and LINK to the Commodity Futures Trading Commission (CFTC), with plans to begin trading as of July 15.
In a statement released on Friday, Coinbase expressed excitement about the potential for expansion of its product offering, stating that these futures contracts will provide users with more opportunities for risk management, price speculation and participation in the cryptocurrency market with less upfront capital required.
The platform believes that this expansion will not only diversify its product range, but also improve the overall trading experience for users.