Coinbase's Stock Futures Proposal Stalls on Regulatory Hurdles

Coinbase Derivatives has filed a proposal for perpetual futures tied to individual US stocks and ETF shares, but their launch remains pending regulatory approval.

The proposed framework covers cash-settled contracts on individual equity securities and ETF shares, including those with no fixed expiration date. Traders would gain price exposure without owning or delivering the underlying shares, and any gains or losses would arise from the futures position rather than direct ownership.

Funding terms for open positions would vary by product, with proposed trading hours running from Sunday evening through Friday. The framework outlines a no-expiry, cash-settled structure that would provide 24/5-style exposure to underlying stock prices without shareholder rights or delivery of the shares themselves.