Coinbase Seeks CFTC Approval for Single-Stock Perpetual Futures

Coinbase has filed a regulatory application with the Commodity Futures Trading Commission to bring single-stock perpetual futures to the US market. This move aims to replicate a derivatives product widely used in crypto markets for individual US equities.

The proposed contracts would give US traders 24/5 exposure to individual stocks without owning the underlying shares, building on Coinbase's existing US perpetual futures market. Perpetual futures differ from traditional futures contracts in that they do not expire.

Coinbase plans to initially offer perpetual futures tied to roughly 50 to 60 stocks, including Apple (AAPL), Microsoft (MSFT), Tesla (TSLA) and Nvidia (NVDA). The company already offers stock perpetual futures to eligible traders outside the US, having launched the product in March with contracts tracking major US stocks and indexes.