Coinbase files to bring single-stock perpetual futures to US market
Written by Nate Kostarstaff writerReviewed by Robert Lakinstaff editorCoinbase wants to bring 24/5 perpetual futures trading to individual US stocks, with its proposed contracts now awaiting regulatory approval.
Coinbase has filed with the Commodity Futures Trading Commission to list single-stock perpetual futures in the United States, seeking to bring a derivatives product widely used in crypto markets to individual US equities.
The filing, submitted Friday through Coinbase Derivatives, seeks regulatory approval for contracts that would give US traders 24/5 exposure to individual stocks without owning the underlying shares. Perpetual futures differ from traditional futures contracts in that they do not expire.
Coinbase said the products would build on its existing US perpetual futures market, bringing the structure to individual stocks for US traders. The proposed contracts are classified by the CFTC as single-stock futures and remain pending regulatory approval.
Source: Coinbase
The Wall Street Journal reported on Friday that Coinbase plans to initially offer perpetual futures tied to roughly 50 to 60 stocks, including Apple, Microsoft, Tesla and Nvidia.
The CFTC filing follows an earlier regulatory step by Coinbase Derivatives, which filed a Form 1-N with the Securities and Exchange Commission on Sept. 1 to register as a national securities exchange for the purpose of offering security futures.
Coinbase already offers stock perpetual futures to eligible traders outside the United States, having launched the product in March with contracts tracking major US stocks and indexes, including Apple and Nvidia. At the time, the company said the products were unavailable to US persons but that it was working to expand the offering to additional regions.
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