Coinbase seeks approval to launch single-stock US equity perps

Coinbase seeks approval to launch single-stock US equity perps

The proposed stock perps would mark an expansion of Coinbase's derivatives business into products tied to traditional US equities.

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By Editorial Team
Edited by Vivian Nguyen

Coinbase Global has filed for regulatory approval to list perpetual futures tied to individual large-cap US stocks, targeting around 50 to 60 widely traded names such as Apple, Microsoft, Tesla and Nvidia, the company said Friday.

The planned contracts would allow traders to speculate on individual stock prices without the contracts having a fixed expiration date.

The offering would broaden the exchange’s derivatives lineup by bringing perpetual contracts tied to major US equities alongside its existing crypto-related products.

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What perpetual futures actually are, and why they matter

Perpetual futures have become especially prominent in the crypto markets. They are derivative contracts with no expiration date, allowing traders to take leveraged long or short exposure to an asset without owning it or taking delivery.

Unlike conventional futures, they do not require traders to roll from one contract month to the next. Instead, periodic funding payments between long and short traders generally help keep a perpetual’s price aligned with the underlying asset’s spot price.

Coinbase already tested this internationally

This is not a theoretical product for Coinbase. On March 20, 2026, its international exchange launched stock perpetuals for eligible non-US customers, initially covering Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta and Tesla, as well as selected ETFs including SPY and QQQ.

The contracts were cash-settled in USDC and offered leverage of up to 10 times on individual stocks and up to 20 times on ETFs, according to reports describing the launch.

For the US launch, Coinbase has not disclosed the final stock list, leverage limits or trading start date. Its SEC notice filings are an initial regulatory step, not authorization to begin trading.

Because single-stock futures fall under the US security futures framework, the proposed product would face requirements involving both the SEC and CFTC before launch.

Coinbase has also expanded its US-regulated derivatives business, including futures linked to equity indexes. That provides the relevant listed-derivatives experience, but single-stock perpetuals would still represent a distinct product category with a different regulatory framework.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
FINANCE
Coinbase seeks approval to launch single-stock US equity perps
Coinbase seeks approval to launch single-stock US equity perps

The proposed stock perps would mark an expansion of Coinbase's derivatives business into products tied to traditional US equities.

By Editorial Team
Edited by Vivian Nguyen

Share

Add us on Google

Coinbase Global has filed for regulatory approval to list perpetual futures tied to individual large-cap US stocks, targeting around 50 to 60 widely traded names such as Apple, Microsoft, Tesla and Nvidia, the company said Friday.

The planned contracts would allow traders to speculate on individual stock prices without the contracts having a fixed expiration date.

The offering would broaden the exchange’s derivatives lineup by bringing perpetual contracts tied to major US equities alongside its existing crypto-related products.

Advertisement

What perpetual futures actually are, and why they matter

Perpetual futures have become especially prominent in the crypto markets. They are derivative contracts with no expiration date, allowing traders to take leveraged long or short exposure to an asset without owning it or taking delivery.

Unlike conventional futures, they do not require traders to roll from one contract month to the next. Instead, periodic funding payments between long and short traders generally help keep a perpetual’s price aligned with the underlying asset’s spot price.

Coinbase already tested this internationally

This is not a theoretical product for Coinbase. On March 20, 2026, its international exchange launched stock perpetuals for eligible non-US customers, initially covering Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta and Tesla, as well as selected ETFs including SPY and QQQ.

The contracts were cash-settled in USDC and offered leverage of up to 10 times on individual stocks and up to 20 times on ETFs, according to reports describing the launch.

For the US launch, Coinbase has not disclosed the final stock list, leverage limits or trading start date. Its SEC notice filings are an initial regulatory step, not authorization to begin trading.

Because single-stock futures fall under the US security futures framework, the proposed product would face requirements involving both the SEC and CFTC before launch.

Coinbase has also expanded its US-regulated derivatives business, including futures linked to equity indexes. That provides the relevant listed-derivatives experience, but single-stock perpetuals would still represent a distinct product category with a different regulatory framework.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.