Coinbase Expands into Canada with BTC, ETH, SOL Futures

Coinbase has entered Canada's derivatives market by launching BTC, ETH, and SOL futures. The cryptocurrency exchange offers 23 perpetual and fixed-expiry futures, five commodity futures, and Coinbase 50 index products through its subsidiary, Coinbase Financial Markets.

Trading is conducted under an exemption for foreign dealers and futures commission merchants. Eligible investors must have at least $5 million in net financial assets or be registered investment advisers or dealers. The contracts are nano-sized with up to 10x leverage.

This move comes as the Canadian base of cryptocurrency users expands, according to a survey by the Ontario Securities Commission (OSC). The share of Canadians holding cryptocurrencies rose to 25% this year from 10% in 2023.