Coinbase Debuts CFTC-Regulated Perpetual Futures for U.S. Traders
Coinbase Introduces Regulated Perpetual Futures for U.S. Traders
Coinbase Financial Markets has officially launched perpetual futures trading for retail users in the United States. This division of Coinbase operates under the regulation of the Commodity Futures Trading Commission (CFTC), making it the first platform to offer U.S. retail traders access to regulated perpetual futures contracts. These contracts are unique in that they do not come with monthly expirations, a key feature that sets them apart from traditional futures products.
The initial offering includes nano Bitcoin (BTC-PERP) and nano Ether (ETH-PERP) perpetual futures. These contracts are designed to provide smaller-scale exposure, making them more accessible to everyday investors. To trade these derivatives, users must hold a verified Coinbase account and complete a separate application for derivatives trading approval.
According to a Coinbase blog post, the new futures products allow users to maintain positions for up to five years. Traders can access intraday leverage of up to 10x for cryptocurrency contracts, while metals such as gold and silver can be traded with leverage as high as 20x. Trading fees are highly competitive, starting at just 0.02% per contract. This rate includes exchange, clearing, and regulatory costs. A minimum charge of $0.15 applies per trade, which helps position Coinbase as a strong U.S.-based alternative to the offshore platforms that have long dominated the derivatives space.
Coinbase emphasized in a post on X (formerly Twitter) that this launch brings the efficiency and flexibility of perpetual futures to a fully regulated American marketplace for the first time. The move follows a broader company strategy to align more closely with global derivatives markets while remaining within U.S. regulatory boundaries.
Coinbase CEO Brian Armstrong confirmed the news on X, calling it a major milestone for both the company and the U.S. crypto market. He noted that the offering is fully compliant with CFTC regulations, which he sees as a significant step toward increasing access to advanced trading tools for American users.
Market reaction has been positive. Following the launch, Coinbase’s stock (COIN) rose 1.95% to $427.98, according to data from TradingView. Just last week, the stock hit a new all-time high of $436. This rise coincided with the signing of the GENIUS Act, legislation viewed as favorable for crypto companies, especially those involved with stablecoins—a key part of Coinbase’s operations. Over the past five days, the stock has gained more than 8%, and it is up over 40% in the past month.
