Coinbase Seeks Approval to Launch Cardano and Natural Gas Futures Contracts
Coinbase is moving to expand its derivatives offerings, seeking regulatory approval to introduce Cardano (ADA) and Natural Gas (NGS) futures contracts. If approved, these new products would mark a significant step in merging traditional commodities with cryptocurrency markets.
Regulatory Filing and Expected Launch Date
On Friday, Coinbase Derivatives, the exchange’s futures trading arm, confirmed that it has submitted documentation to the U.S. Commodity Futures Trading Commission (CFTC) to self-certify ADA and NGS futures contracts. Self-certification allows Coinbase to assert regulatory compliance, enabling an expedited approval process unless the CFTC raises objections. If the regulator does not intervene, the new futures contracts could launch as early as March 31. The move follows Coinbase’s recent launch of Solana (SOL) and Hedera (HBAR) futures contracts, reinforcing the company’s long-term strategy to provide traders access to both crypto and traditional asset futures within a regulated framework. Cardano (ADA) is one of the most established blockchain platforms, recognized for its scalability, sustainability, and security. With increasing adoption in DeFi, NFTs, and enterprise blockchain solutions, ADA futures provide traders an opportunity to gain exposure to price movements without holding the actual asset.
Following the announcement, ADA saw a 2% price increase, reaching $0.75, according to CoinGecko data. The Natural Gas (NGS) futures offering would mark Coinbase’s first venture into traditional energy commodities, positioning it as a competitor to established futures exchanges in the sector. Given natural gas’s critical role in global markets, this move could expand the exchange’s appeal beyond crypto traders. The SEC has historically been cautious about crypto-related ETFs, but the introduction of regulated futures contracts could help establish price stability and improve market transparency. Some analysts speculate that successful futures trading could make the SEC more receptive to approving spot ETFs in the future. Currently, Grayscale Investments is the only firm that has filed for a spot Cardano ETF, proposing to list shares of its Grayscale Cardano Trust on NYSE Arca. However, the SEC recently delayed its decision on the application, along with other pending crypto ETF proposals.
Gary Gensler’s Departure Sparks Rise in Crypto ETF Filings
Earlier this year, asset management firm 21Shares officially filed with the SEC to introduce a spot Polkadot ETF. The filing came following the resignation of SEC Chair Gary Gensler on Jan. 20. Gensler, known for his cautious stance on crypto regulations, stepped down amid increasing pressure for greater regulatory clarity in the digital asset space. Likewise, Tuttle Capital Management filed applications for ten cryptocurrency-based leveraged ETFs, including funds tied to popular meme coins. Analysts suggest the filings are part of a broader strategy to test the boundaries of an SEC under Trump-era crypto-friendly regulators. The proposed ETFs include leveraged funds that aim to deliver twice the returns of their underlying assets, such as the meme coins Official Trump ($TRUMP) and Melania Meme ($MELANIA). Furthermore, Osprey Funds and REX Shares have filed for meme coin ETFs covering Dogecoin (DOGE), Official Trump ($TRUMP), and Bonk (BONK) on Jan. 21.