Coinbase's futures commission merchant division has received authorization to offer perpetual futures contracts and options on cryptocurrencies to US-based investors. This marks a significant expansion of regulated crypto derivatives access domestically, a product category that has historically been available primarily on offshore, unregulated exchanges. The move brings a class of high-demand trading instruments into a compliant, US-regulated framework for the first time through a major exchange.
Perpetual futures are among the most actively traded instruments in crypto globally, and US investors have been largely cut off from them through regulated channels — until now. This expands Coinbase's addressable revenue base and positions it to capture trading volume that previously flowed to offshore venues like Binance. For crypto broadly, regulated derivatives access tends to deepen liquidity and attract institutional participation, which can support prices.
Coinbase Q2 2025 earnings call (date TBD, typically late July): watch for early trading volume figures from the new product. CFTC regulatory calendar: any guidance or rulemaking on crypto derivatives will shape how quickly this scales.
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