Coinbase has filed with the CFTC to launch single-stock perpetual futures for major companies, expanding its derivatives offerings in the U.S.
Coinbase Seeks CFTC Approval for Innovative Futures Contracts
Coinbase has officially submitted a proposal to the Commodity Futures Trading Commission (CFTC) through its derivatives division, aiming to launch single-stock perpetual futures in the United States. This initiative includes around 50 to 60 contracts for prominent companies such as Apple, Microsoft, Tesla, and Nvidia.
The filing, which was made on Friday, is part of Coinbase's strategy to broaden its derivatives offerings within the U.S. market. If approved, these contracts would allow U.S. traders to gain leveraged exposure to individual stocks without the need to own them directly.
Single-stock perpetual futures, often referred to as "perps," are unique derivative contracts that track the price of an asset without an expiration date. This allows traders to hold their positions indefinitely as long as they comply with margin and funding requirements. Although common in the cryptocurrency space, U.S. traders have had limited access to such products until now.
Coinbase's proposal represents a significant step in expanding its onshore derivatives operations. Earlier this year, the exchange became the first in the United States to be authorized to offer regulated crypto perpetual futures, launching contracts that provide leverage up to 50 times. Currently, Coinbase offers stock perpetuals to eligible non-U.S. traders, having introduced this feature in March.
As demand for perpetual futures continues to grow, Coinbase's filing comes amid increasing competition in the market. The CFTC has recently approved Bitcoin perpetual futures for Kalshi, which is now branching out into commodities like copper. Meanwhile, Polymarket is also working on its own crypto perpetual futures offerings.
It is important to note that investing in single-stock perpetual futures does not confer any shareholder rights, dividends, or ownership; it only provides exposure to price movements. Details regarding the specific terms and leverage limits of these contracts are still pending, as they await regulatory approval before trading can begin.
