Coinbase Seeks SEC Approval for Single-Stock Perpetual Futures in US
Coinbase shares surged 10% after the company announced it had filed notice registrations with the SEC for two derivatives businesses. The exchange aims to bring single-stock perpetual futures to US traders, building on its existing international product.
The filings cover two parts of Coinbase's proposed structure: Coinbase Derivatives, LLC submitted Form 1-N, and Coinbase Financial Markets, Inc. filed Form BD-N. This would see Coinbase Derivatives run the marketplace for the contracts, while Coinbase Financial Markets handle regulated customer access to them.
Coinbase has already offered similar products to customers outside the US through its international exchange. The company launched stock perpetual futures in March and saw significant success, especially among international investors. However, it's unclear whether domestic contracts will trade continuously or offer similar leverage.