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Coinbase Seeks CFTC Approval to Offer Perpetual Futures on Major US Stocks
Coinbase Derivatives has formally applied to the U.S. Commodity Futures Trading Commission (CFTC) for authorization to list perpetual futures contracts on individual stocks. The move seeks to introduce a popular derivative instrument from the cryptocurrency world to the regulated U.S. traditional equities market.
Proposal Details
Perpetual futures are a type of derivative contract that, unlike traditional futures, has no expiration date, allowing investors to hold positions indefinitely as long as margin requirements are met. If approved, Coinbase plans to launch approximately 50 to 60 of these single-stock contracts later this year, according to a report from Investing.com.
The initial list of proposed underlying assets includes several technology giants, such as:
- Apple (AAPL)
- Tesla (TSLA)
- Nvidia (NVDA)
- Microsoft (MSFT)
AdIt is important to note that these contracts would only track the price movements of the stocks. They do not confer any shareholder rights, such as voting power, dividends, or ownership of the underlying equity. Specific details regarding contract specifications and leverage limits have not yet been finalized and await the CFTC's review.
Strategic Expansion and Market Context
This filing marks a significant step in Coinbase's expansion into the domestic derivatives market. The company previously became the first U.S. platform authorized to offer regulated cryptocurrency perpetual futures, some with leverage as high as 50x. Since March, Coinbase has also made stock perpetual futures available to eligible non-U.S. investors.
The move comes amid a broader trend of financial firms seeking to bring crypto-native products into regulated U.S. markets. The CFTC has already approved Kalshi to offer perpetual contracts on Bitcoin, a service the company later expanded to include commodities like copper. Other firms, such as Polymarket, are also reportedly developing similar products, signaling growing competition for market access.
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