Coinbase has filed with the U.S. Commodity Futures Trading Commission to list perpetual futures tied to individual stocks, seeking to bring a derivatives product popular in crypto markets into the U.S. equity market.
The filing by Coinbase Derivatives would allow U.S. traders to gain 24/5 exposure to individual stocks without owning the underlying shares, subject to regulatory approval. Unlike traditional futures, perpetual contracts have no fixed expiration date and typically use funding payments to keep their prices aligned with the underlying asset.
Coinbase said the proposed contracts would build on its existing U.S. perpetual futures market. The company is initially targeting roughly 50 to 60 stocks, including Apple, Microsoft, Tesla, and Nvidia, according to a Wall Street Journal report.
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The CFTC filing follows a September 1 2026 Form 1-N registration by Coinbase Derivatives with the Securities and Exchange Commission (SEC) to register as a national securities exchange for the limited purpose of offering security futures. The proposed contracts remain subject to regulatory approval and are not yet available to U.S. traders.
Coinbase already offers equity perpetual futures to eligible customers outside the United States.
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The company launched the products internationally in March 2026, initially offering contracts linked to major U.S. stocks and indexes while excluding U.S. persons.
The move expands Coinbase’s push beyond cryptocurrency derivatives and deeper into traditional financial markets. In May 2026, the company said its U.S.-regulated derivatives business had gained access to global crypto perpetual futures and options markets while its broader derivatives platform is being combined with Deribit.
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The U.S. rollout would also put Coinbase into a developing market for perpetual-style products tied to traditional assets. The contracts would provide exposure to stock-price movements rather than ownership of the underlying securities meaning traders would not receive shareholder rights such as voting rights.
The proposal comes as U.S. regulators and exchanges continue to determine how perpetual contracts should be treated under existing derivatives rules. The SEC and CFTC would have regulatory roles in the proposed equity futures structure.
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In August 2026, the @CFTC Chairman said the agency was exploring rules that could allow existing registrants and currently unregistered crypto exchanges to operate as a new type of designated… pic.twitter.com/rcP21QAUnW
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For Coinbase, the filing marks another step in its effort to bring trading products that have largely developed in offshore crypto markets into the regulated U.S. financial system.
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