Coinbase Seeks SEC Approval for Equity Perpetuals

Coinbase has filed registration documents with the U.S. Securities and Exchange Commission to offer equity perpetuals, its chief policy officer said on social media. The product is a derivative contract that tracks underlying assets without expiring, allowing traders to hold positions indefinitely.

Chief Policy Officer Faryar Shirzad noted that equity perps have proven demand internationally, and the exchange is excited about the prospect of a regulated pathway for U.S. investors. This move follows CFTC approval earlier this year for Coinbase and prediction markets platform Kalshi to offer perpetual crypto futures.

The regulator's greenlight has weighed on sentiment in exchange stocks this year, which are recovering from a selloff in the first half of 2023.