Coinbase Seeks SEC Approval for Equity Perpetuals

Coinbase has filed for SEC approval to offer equity perpetuals, a type of derivative contract that allows traders to hold positions indefinitely without expiring. The product will also require Commodity Futures Trading Commission (CFTC) approval next, according to Coinbase's Chief Policy Officer Faryar Shirzad.

'Equity perps have proven demand internationally, and we’re excited at the prospect of a regulated pathway for U.S. investors,' Shirzad said in a social media post on X. This move comes after the exchange received CFTC approval earlier this year to offer perpetual crypto futures alongside prediction markets platform Kalshi.

Kalshi has also filed for CFTC approval to launch equity index perpetuals, putting it in more direct competition with incumbent exchanges. The regulator's greenlight on these products has weighed on the sentiment in exchange stocks in the first half of the year, but they are recovering from a selloff.