SHIB Inu Receives Strong Utility For Coinbase US Derivative Launch
With the completion of Coinbase’s SHIB indexed fund on their U.S. Derivatives market, Shiba Inu (SHIB) achieves considerable utility and marks an important event for the cryptocurrency. Meme coins are often unable to achieve consensus adoption, gaining utility and prominence within the crypto space, and this event will make Shiba Inu one of the few cryptocurrencies that is able to be traded and held on fully regulated platforms.
Coinbase made the first announcement of the SHIB U.S. Perpetual-style Futures and is now available for trading through an X post. For the first time, traders are able to legally participate in the U.S. Futures market for the newly created SHIB 1k Index Futures.
The new product provides market access to legal U.S. Futures for both retail and institutional customers through regulated Futures Commission Merchants. According to the Coinbase announcement, the products are designed to mimic offshore perpetuals with the exception that they are fully compliant with U.S. regulations.
Consequently, the trading of SHIB now takes place within a fully regulated environment equivalent to trading digital currencies such as Bitcoin and Ethereum.The New Launch Of Coinbase Derivatives. The first-ever Coinbase Derivative was launched in September and it allows customers to trade futures for the meme coin Shiba Inu.
This was the first step in consideration of Coinbase wanting to trade spot ETFs. Also, recent SEC regulations allow for faster approvals of spot ETFs if the underlying assets have futures, which allows for the trading of Shiba Inu in a futures market. This led to the SEC being made to move to secure a Shiba Inu ETF application for Shiba Inu to T Rowe Price Group.
The assets being traded include major coins like Cardano (ADA), Avalance (AVAX), Dogecoin (DOGE), Polkadot (DOT), Sui, Hedera (HBAR), Bitcoin Cash (BCH), Litecoin (LTC), and Chainlink (LINK) in addition to SHIB. Also Derivatives are a large and massive tier, and having a meme like Shiba Inu included in the first-ever tier level and top level tier recognition especially regulatory recognition of the Asst. It’s something the space has never experienced before.
The expansion of SHIB and the Shiba Inu token in general has made its way to the top tier of meme coins, which makes the addition of the token to the have pre-approved assets like Bitcoin and Ethereum.
This is a big step in easy adoption of the Shiba Inu and its assets. Also having a potential gain in capital- SHIB might even have tax benefits if capital gain taxes are reduced if the such is reduced. The SHIB traded in Europe on Valour Inc which is a SEK Denominated Space. This finally gives Europe their first meme coin.
To add to that, the Shiba Inu team is actively investigating other potential use cases outside of trading as well. In further strengthening the SHIB ecosystem, the team formed a partnership with TokenPlay AI to create a Shiba-themed AI gaming app that incorporates blockchain rewards.
SHIB’s entry into the derivatives market is the first of its kind for a meme coin and is regarded as a step towards meme coin maturity by experts. This step should bring Shiba Inu more regulatory compliance in line with cryptocurrency offerings such as Bitcoin and Ethereum. This change in status will allow a greater degree of institutional participation and should bring Shiba Inu to the forefront of the financial system and the mainstream economy.
