Coinbase's US500 Futures Skyrocket to $100 Million in Daily Volume

Coinbase has seen strong early momentum for its US500 index perpetual futures product, launched on August 17. Within just one week of launch, daily trading volume topped $100 million in a single day.

This is according to Coinbase CEO Brian Armstrong, who shared the news via social media post. The US500 product offers exposure to the U.S. large-cap stock market and is tied to an index of the 500 largest companies in the country.

Armstrong noted that the US500 perpetual futures can also be traded in the U.S., adding that users are eager for more index perpetual futures products. He asked followers which products they would like to see next.