Coinbase Seeks Approval for Single-Stock Perpetual Futures in the US
- Coinbase has filed with the Commodity Futures Trading Commission (CFTC) to offer single-stock perpetual futures.
- The proposed contracts will allow US traders to have exposure to individual stocks without owning them, available for trading five days a week.
- Initially, Coinbase plans to offer perpetual futures on approximately 50 to 60 stocks, including major companies like Apple and Microsoft.
- This filing follows a Form 1-N submission to the SEC on September 1 for registering as a national securities exchange.
- Coinbase already provides stock perpetual futures outside the US since launching the product in March.
The introduction of single-stock perpetual futures could significantly enhance trading options for US investors by allowing access to popular equities without direct ownership. This move is part of Coinbase’s strategy to expand beyond its existing crypto derivatives market.
With this initiative, Coinbase aims to tap into a broader market by offering products linked to major stocks like Tesla and Nvidia, pending CFTC approval for their new contracts. (Source)
