Coinbase Seeks SEC Approval for Single-Stock Perpetual Futures in US

Coinbase has filed paperwork with the U.S. Securities and Exchange Commission (SEC) to launch single-stock perpetual futures for U.S. retail investors.

This move would expand Coinbase's existing service, which it offers outside of the U.S., allowing traders to bet on price moves in underlying assets without a fixed expiration date.

The company plans to seek additional approvals from the U.S. Commodity Futures Trading Commission and aims to bring the contracts to the U.S. market this year.

Coinbase shares surged 10% on the news, but remain down about 35% over the past year.