Coinbase files to list first single stock perpetual futures in the US

Coinbase just filed SEC registration notices to offer something that has never existed in the US market: single stock perpetual futures. The filings, submitted on September 1 through two entities, Coinbase Derivatives and Coinbase Financial Markets, represent the exchange’s boldest move yet to merge traditional equity trading with the always-on mechanics of crypto markets. The company announced the filings on X on September 3, noting it will next seek CFTC approval before any trading can actually begin. Investors liked the sound of it. COIN shares jumped roughly 10% on the news. What perpetual futures actually are, and why they matter Perpetual futures are a financial instrument born in crypto markets that let traders take leveraged long or short positions on an asset without ever owning it. Unlike traditional futures contracts, they never expire, meaning there’s no rolling from one contract month to the next. Think of them as a way to bet on a stock’s price movement 24 hours a day, 7 days a week, with borrowed money, without ever touching the actual shares. Coinbase already tested this internationally This isn’t a theoretical product for Coinbase. The exchange launched perpetual f...