The move would extend Coinbase’s existing crypto perpetual futures business in the United States into individual equities.
Coinbase said this week it filed notice registrations with the US Securities and Exchange Commission (SEC) to offer single-stock perpetual futures domestically, according to a post from the company’s official account.
The move adds another regulated derivatives product to Coinbase’s US lineup and comes as regulators continue sorting out how perpetual contracts should be classified under American law.
Coinbase Files for US Single-Stock Perps
“We’re working to bring single stock perps to the US,” Coinbase wrote, adding that it plans to work with both the SEC and the CFTC to bring more major financial products onshore.
The company shared images of two filings, both submitted on September 1. The first is a Form 1-N from Coinbase Derivatives, LLC, the entity through which the exchange already offers other futures products. The second is a Form BD-N from Coinbase Financial Markets, Inc., registering as a security futures product broker-dealer under Section 15(b)(11) of the Securities Exchange Act of 1934.
Neither filing guarantees the product launches on any set timeline. Notice registrations open the door for a broker or exchange to offer a given product, while approval and any conditions attached to it still rest with regulators.
The filing also comes alongside a broader push into tokenized products, with Coinbase launching tokenized stock trading for customers outside the US in August, alongside options trading and real-world-asset perpetual futures tied to equity indices.
It also rolled out pre-IPO perpetual futures starting with SpaceX, with Anthropic and OpenAI contracts expected to follow, a corner of the market that grew more than tenfold in volume since May, to around $12 billion, according to CryptoQuant.
You may also like:
A Product Category Still Being Fought Over
Perpetual futures carry no expiration date, letting traders bet on an asset’s price without owning it, and the US market for them is new.
In May, the CFTC approved Kalshi to offer Bitcoin perpetual futures, the first time the product cleared for the US market, and a decision CME Group said it would challenge in court on the grounds that perpetuals should be regulated as swaps rather than futures.
At the time, CME CEO Terrence Duffy noted that the company spent eight months preparing the case and argued that its exclusive licensing deals with benchmark providers mean any perpetual contract tied to those benchmarks still has to run through CME.
CFTC Chair Michael Selig has defended the original approval as a way to bring regulated, expiration-free products onshore under US oversight.
Credit: Source link
