Coinbase Seeks to Introduce Perpetual Futures for Individual Stocks in U.
S. Market
Coinbase is aiming to bring one of the cryptocurrency industry’s most widely used trading instruments to the U.S. stock market, having filed with federal regulators for the listing of single-stock perpetual futures.
The filing, submitted on Friday by Coinbase Derivatives, requests approval from the Commodity Futures Trading Commission (CFTC) for contracts that would allow American traders to gain leveraged exposure to individual stocks without the need to directly own the shares.
According to the CFTC’s listing, the product, categorized as a single-stock future, is currently pending approval. Coinbase stated that this filing represents its “first set” of U.S. single-stock perpetuals, with the objective of providing 24/5 trading access to individual equities.
Perpetual futures, often referred to as “perps,” are derivative contracts designed to mirror the price of an underlying asset. They differ from traditional futures by lacking an expiration date, enabling traders to maintain positions indefinitely, provided they meet margin and funding requirements.
While a long-standing feature in crypto markets, perpetual futures have largely been inaccessible to U.S. traders in most forms until recently. The Wall Street Journal reported that Coinbase intends to launch approximately 50 to 60 contracts, featuring companies such as Apple, Microsoft, Tesla, and Nvidia, potentially by the end of this year, contingent on regulatory approval.
This initiative marks an acceleration in Coinbase’s expansion of its domestic derivatives business. Earlier this year, the company became the first U.S. exchange to receive clearance for offering regulated crypto perpetual futures, subsequently introducing contracts with leverage up to 50x. Coinbase already provides stock perpetuals to eligible international traders, having launched that product in March.
The filing arrives amidst a broader push to introduce perpetual futures to the U.S. market. The CFTC has previously approved Bitcoin perpetual futures for Kalshi, which has since diversified into commodities like copper, while Polymarket is also progressing with its own crypto perpetual futures offerings.
It is important to note that holding a single-stock perpetual future would not grant any shareholder rights, dividends, or ownership stakes; it would solely provide price exposure. Specific contract details and leverage limits have not yet been fully disclosed, and the products still require regulatory clearance before trading can commence.
