Coinbase Files to Offer 24/7 Stock Perpetual Futures in the US

Coinbase has submitted two SEC filings that would allow the exchange to list single‑stock perpetual futures for U.S. traders. The filings, dated September 1, cover its derivatives and financial‑markets divisions and set up the legal entities needed for a regulated launch.

SEC filings detail the regulatory structure

Coinbase Derivatives filed a Form 1‑N to register as a security futures exchange, while Coinbase Financial Markets filed a Form BD‑N to register as a limited‑purpose security futures broker‑dealer. Both filings were made on September 1.

Pending CFTC approval

Coinbase’s chief policy officer, Faryar Shirzad, said the next hurdle is approval from the Commodity Futures Trading Commission. Without CFTC sign‑off, the contracts cannot be offered to U.S. customers.

Existing product abroad

The exchange already offers 10× leveraged perpetual futures on Apple, Nvidia and Tesla to non‑U.S. users, settled in USDC. The international rollout began on March 20 and includes the “Magnificent Seven” stocks plus SPY and QQQ ETFs in selected jurisdictions.

Market reaction

Coinbase shares rose about 10 % to $192.70 following the announcement.

Broader strategy

CEO Brian Armstrong has described a roadmap that will eventually include pre‑IPO perps, stock options and tokenized stocks, supported by the $2.9 billion Deribit acquisition. The goal is a single account that can trade a range of assets 24/7, settled instantly in USDC.