
Jakarta, Pintu News – Shiba Inu saw a significant increase in utility after Coinbase launched the SHIB fund index on its derivatives market. This is a major achievement for a meme coin, considering that these types of coins don’t usually achieve this level of adoption.
In a post on X, Coinbase announced the launch of a perpetual-style futures contract in the US tied to the Shiba Inu meme coin.
Read also: Shiba Inu Price Prediction: SHIB Still Under Pressure
The exchange officially launched the SHIB 1k Index on the Coinbase Derivatives platform, allowing traders to access the market through a legally authorized futures structure.
These indices are accessible to both retail and institutional investors through licensed Futures Commission Merchants. The model is similar to perpetual products overseas, but under the regulatory oversight of the United States.
This move is a significant improvement as it allows for wider market access while placing the asset in a regulated environment – similar to other major cryptocurrencies such as Bitcoin.
The launch of this derivative is a continuation of efforts that began earlier this year. In September, Coinbase had first launched the SHIB futures contract for trading. This was the first step towards a potential spot-based exchange-traded fund (ETF) for the meme coin.
Under new guidelines from the SEC, cryptocurrencies that have regulated futures markets are eligible for an accelerated path in ETF review. This prompted T. Rowe Price Group to submit a Shiba Inu ETF application to the SEC.
In addition to SHIB, the latest list of derivatives on Coinbase also includes futures for Cardano, Avalanche, Dogecoin, Polkadot, Sui, Hedera, Bitcoin Cash, Litecoin, and Chainlink.
However, special attention has been paid to SHIB as the entry of meme tokens to this level of recognition from regulators is considered unusual at this stage.
Shiba Inu recently made it onto Japan’s “Green List” – a pre-approved list of digital assets, along with Bitcoin and Ethereum. This new classification could potentially encourage more institutions to use crypto assets, and could become more tax-friendly if the Japanese government decides to lower taxes on capital gains from crypto.
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In addition to the product launch, the Shiba Inu project is also collaborating with TokenPlay AI to develop a Shiba-themed gaming app. The project will feature AI-based games as well as a reward system on the blockchain, with a brand identity that will carry the SHIB name.
In Europe, investment firm Valor Inc. launched an Exchange-Traded Product (ETP) denominated in Swedish krona (SEK) that follows the price movements of the crypto meme on the Spotlight Stock Market in Sweden.
The meme coin’s entry into the regulated derivatives market is seen as a sign of maturation by experts. This puts Shiba Inu under the same compliance framework as Bitcoin and Ethereum derivatives.
Shiba Inu (SHIB) is a cryptocurrency that belongs to the category of meme currencies, originally created as an alternative to Dogecoin .
Perpetuity-style futures are a type of derivative contract that has no expiration date, allowing for continuous trading until the trader decides to close the position.
Regulated derivative products offer more protection for investors, ensure compliance with applicable laws and regulations, and provide broader and more structured market access.
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