Coinbase seeks CFTC approval for U.S. single-stock perpetuals

Coinbase filed with the Commodity Futures Trading Commission through Coinbase Derivatives to list single-stock perpetual futures in the United States, according to a report by Decrypt. The submission, made Friday, seeks approval for the company’s first set of U.S. single-stock perpetuals.

Coinbase said it plans to offer roughly 50 to 60 contracts, including Apple, Microsoft, Tesla, and Nvidia. The company aims to provide 24/5 exposure to individual equities. Perpetual futures track an asset’s price without an expiration date, allowing traders to hold positions indefinitely while meeting margin and funding requirements.

The move extends Coinbase’s onshore derivatives push. The exchange became the first U.S. platform to receive CFTC authorization for regulated crypto perps in early 2024, subsequently deploying instruments that permit leverage as high as 50x. Coinbase also already offers stock perps to eligible non-U.S. traders, a product it launched in March.

Trading a single-stock perpetual grants holders zero equity stake, cash distributions, or voting power. The instrument delivers pure price directionality. Details on margin rules and caps remained unclear. Clearance from regulators is needed prior to market entry.