Coinbase Seeks US Approval to List Perpetual Futures on Major Stocks Including Apple and Nvidia

Coinbase is seeking to expand its derivatives offerings into the U.S. equities market, filing a proposal with regulators to list perpetual futures contracts on major stocks such as Apple and Microsoft. The move represents a significant step in bridging crypto-native financial products with traditional stock trading.

The Regulatory Filing

According to a filing submitted on Friday, Coinbase Derivatives has formally requested authorization from the U.S. Commodity Futures Trading Commission (CFTC) to offer futures contracts on single stocks. The proposed products are perpetual futures, a type of derivative popular in cryptocurrency markets that has no expiration date.

This structure allows traders to speculate on the price movements of an asset without owning it and to maintain positions for an indefinite period. The CFTC currently classifies these instruments as single-stock futures, a product category that requires specific regulatory approval.

Target Stocks and Strategy

Coinbase plans to initially list contracts for 50 to 60 major U.S. stocks, including technology giants like Apple (AAPL), Microsoft (MSFT), Nvidia (NVDA), and Tesla (TSLA). If approved, the offering would provide U.S. investors with a novel, 24/7 trading vehicle for some of the market's most popular equities.

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This initiative is part of a broader compliance effort. On September 1, Coinbase Derivatives also submitted a Form 1-N with the Securities and Exchange Commission (SEC) to register as a national securities exchange, a necessary step for providing securities futures products.

Context and Global Expansion

The move follows Coinbase's strategy of expanding its derivatives business globally. The company already offers similar perpetual futures contracts tracking major U.S. stocks and indices to eligible institutional clients outside the United States, a service it launched in March.

Bringing these products to the domestic market would mark a key milestone in Coinbase's effort to diversify its revenue streams and leverage its expertise in digital asset derivatives within the highly regulated traditional finance sector.