Coinbase Applies for Regulatory Clearance to List Single-Stock Perpetual Futures in the U.S.

Coinbase Global has filed for regulatory approval to list perpetual futures tied to individual large-cap U.S. equities, according to a report from Yahoo Finance . If cleared by regulators, the filing would introduce round-the-clock, leveraged trading for shares of major companies such as Apple, Microsoft, Tesla, and Nvidia on a regulated domestic platform.

The exchange plans to list contracts referencing 50 to 60 major stocks, with trading potentially launching later this year pending regulatory clearance. Perpetual futures, or perps, are derivative contracts without fixed expiration dates, enabling market participants to hold leveraged positions indefinitely.

To facilitate the offering, Coinbase submitted a Form 1-N to the Securities and Exchange Commission earlier this month. The filing permits the company's unit, Coinbase Derivatives, to register as a national securities exchange specifically for security futures products.

The domestic filing follows an international expansion into equity derivatives. In March, Coinbase rolled out stock-linked perpetual futures to eligible customers outside the United States. Earlier this month, the platform also introduced regulated crypto derivatives for eligible Canadian traders, listing 23 cryptocurrency futures covering assets like Bitcoin, Ether, and Solana, alongside commodities contracts for gold, silver, and oil, as well as the COIN50 index.

U.S. regulators have recently taken initial steps toward permitting perpetual contracts. On May 29, the Commodity Futures Trading Commission approved a bitcoin perpetual futures contract submitted by Kalshi, stating that market participants could seek clearance for additional perpetual products. Kalshi has also taken steps toward offering single-stock perpetual futures, an asset class that has previously gained volume primarily on offshore venues and decentralized platforms like Hyperliquid.

Coinbase shares (NASDAQ: COIN) traded up 8.16% at $188.17 following the report.