Coinbase Seeks CFTC OK for Single-Stock Perpetual Futures

Coinbase has filed two notices with the Securities and Exchange Commission (SEC) to offer single-stock perpetual futures to U.S. traders, a move that could bring new trading opportunities to domestic investors.

The filings, dated September 1, cover two regulated arms: Coinbase Derivatives, which registered as a security futures exchange via Form 1-N, and Coinbase Financial Markets, which submitted Form BD-N to register as a limited-purpose security futures broker-dealer.

Faryar Shirzad, chief policy officer at Coinbase, stated that approval from the Commodity Futures Trading Commission (CFTC) would be needed next. He emphasized the potential for regulated pathways in the U.S., saying equity perps have proven demand internationally and are exactly what's needed to keep the country competitive on products investors want.

Coinbase shares jumped 10% to $192.70 following the announcement, as the firm seeks to bring its stock perpetual futures model to the U.S. market, similar to the one it offers non-U.S. users with a focus on major tech stocks like Apple and Nvidia.