Nadex Self-Certifies SHIB-Linked Swap, Listing to Begin on November 13

Key Facts

Nadex has self-certified a swap linked to the price of Shiba Inu at a specified time and date, a regulatory step that does not by itself mean trading has begun. The exchange said in its notice that the contract is based on the price of SHIB at a "specified time and date," without providing details of the strike price or settlement value. The notice sets the listing date for November 13, 2026, or later, making that the earliest announced date for listing to begin. The Commodity Futures Trading Commission's product register lists the contract as an approved swap dated November 10, 2026. The confirmed developments are therefore the product's approval and listing timetable, while the notice alone does not establish that trading has begun or disclose the contract's detailed terms.

Nadex cited self-certification of the swap under the Commodity Exchange Act and CFTC Regulation 40.2(a) in its filing. The exchange describes the product as a swap on the price of SHIB at a specific point in time, distinguishing it from buying the coin itself, but that is not enough to determine how gains or losses are calculated. The available notice did not include the strike price terms or settlement rules for the newly approved contract. The published information therefore does not establish that the contract allows a bet on reaching or exceeding specific price levels. The filing alone also does not establish that the product has begun trading in the U.S. market.

The announced listing date sets a timeframe for the next step: the contracts will be listed on November 13, 2026, or later, according to the Nadex notice. The CFTC register records the contract's approval on November 10, three days before that date. The two dates reflect separate stages in the announced process: approval of the swap, followed by the earliest possible listing date. The notice does not specify a final listing date, using the phrase "on November 13 or later." Actual trading therefore remains tied to the listing date set by the exchange after the published earliest date.

Nadex describes itself as an exchange regulated by the CFTC and says it is part of Crypto.com's global brand. That description places the contract within the activity of a regulated U.S. exchange, but does not in itself add details about the new product's terms or availability. Nadex's published specifications for SHIB contracts list a 4-hour contract, 9 strike prices and a $0.00000002 difference between strike prices. However, these specifications apply to existing SHIB products on the exchange's page, and the notice does not identify them as terms of the newly approved contract. The 4-hour duration, number of strike prices and their difference therefore cannot be attributed to the new contract.

In market moves during the two sessions preceding the announced listing date, EL7 data recorded SHIB/USD closing at $0.00000437 on November 12, then $0.00000426 on November 13, 2026. These readings place the coin's daily price around the date in the notice, without establishing that the listing caused the price move. The price data date the two closes to their respective days, while the Nadex notice still gives the listing date as November 13 or later. On the product side, other exchange notices dated November 10 indicate that Nadex self-certified similar event contracts linked to other cryptocurrencies, including Sei and Solana, with a similar announced listing date starting November 13. Those notices place the SHIB contract among a group of filings announced by the exchange on that date.