Coinbase to Launch Regulated Dogecoin Futures on April Fool's Day

Hiroshi Tanaka
1 min read

Coinbase Derivatives is set to launch regulated futures for Dogecoin and other altcoins, including Litecoin and Bitcoin Cash, based on a letter sent to the CFTC. The futures products will be based on the Market Vector Coinbase Dogecoin Benchmark Rate and will debut on April Fool's Day. Each contract represents 5,000 DOGE, with Coinbase setting the position limit to 20,000 DOG futures, equivalent to 100,000 DOGE. Dogecoin's current trading price is $0.15 on major spot exchanges. The meme coin gained traction due to its vibrant community and endorsements from prominent celebrities, including Elon Musk. Coinbase's plan to launch a derivatives exchange was initially unveiled last May, and it recently obtained regulatory approval to offer cryptocurrency futures to US investors. Derivatives account for the majority of daily trading volume on digital currency markets.

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