Coinbase has filed with the Commodity Futures Trading Commission to list single-stock perpetual futures in the United States, aiming to transplant a derivatives product long standard in crypto markets onto individual US equities.
The filing, submitted Friday through Coinbase Derivatives, would give US traders 24/5 exposure to single stocks without requiring ownership of the underlying shares. Perpetual futures differ from traditional futures because they carry no expiration date, allowing positions to be held indefinitely subject to periodic funding-rate payments between long and short sides.
According to The Wall Street Journal, Coinbase plans to initially list contracts tied to approximately 50 to 60 stocks, including Apple, Microsoft, Tesla and Nvidia. The proposed contracts are classified by the CFTC as single-stock futures and remain pending regulatory approval.
Coinbase described the offering as an extension of its existing US perpetual futures market, broadening the product structure beyond crypto assets into traditional equities.
The CFTC filing follows a separate regulatory move earlier this year: on Sept. 1, Coinbase Derivatives filed a Form 1-N with the Securities and Exchange Commission to register as a national securities exchange for the purpose of offering security futures. That step was aimed at clearing a path for exchange-traded contracts on individual stocks that are themselves securities.
Coinbase already offers stock perpetual futures to eligible traders outside the United States. The company launched the product internationally in March, with contracts tracking major US stocks and indexes including Apple and Nvidia. At the time, Coinbase said the products were unavailable to US persons but that it was working to expand the offering to additional regions.
If approved, the new CFTC-listed products would mark the first time US retail traders could access perpetual-futures-style exposure to individual equities through a regulated exchange, bridging a gap between traditional derivatives markets and the round-the-clock trading model that has become standard in cryptocurrency markets.
