Coinbase Seeks U.S. Approval for Stock Perpetual Futures

Coinbase has filed with regulators to bring perpetual futures tied to single U.S. stocks to the domestic market, according to the company’s proposal now awaiting approval.

If cleared, the contracts would give traders access to 24/5 derivatives trading on individual equities, borrowing a structure long associated with crypto markets. The filing marks another step in Coinbase’s effort to expand beyond digital assets and into adjacent financial products that can trade with greater flexibility than traditional U.S. stock-market hours allow.

The proposal comes as exchanges and brokers look for ways to capture demand for extended-hours exposure and more capital-efficient trading tools. Perpetual futures, unlike standard dated contracts, do not expire and typically track an underlying asset through funding payments and other mechanisms. In crypto, they are among the most actively traded derivatives products.

For Coinbase, the filing also reflects a strategy to deepen its role as a regulated market infrastructure provider in the U.S. The company has spent the past year broadening its product lineup while navigating a shifting regulatory backdrop for both crypto and traditional finance.

Any launch would depend on regulatory approval and the final structure of the contracts. Even so, the filing signals that Coinbase is testing whether the market for perpetual-style exposure can extend beyond Bitcoin, Ether and other digital assets into U.S. equities.