Coinbase Files to Bring Single-Stock Perpetual Futures to U.S. Traders

Coinbase is trying to bring one of crypto’s most popular derivatives structures to individual U.S. stocks.

The exchange has filed with the Commodity Futures Trading Commission to list single-stock perpetual futures in the United States. If regulators approve the contracts, traders would get 24/5 price exposure to individual companies without buying the underlying shares.

Cointelegraph reports that Coinbase Derivatives submitted the filing Friday. The proposed products are classified as single-stock futures and remain subject to regulatory approval, an important distinction at a moment when crypto exchanges are racing to blur the old lines between digital-asset and traditional markets.

The filing would give eligible U.S. traders exposure to individual companies through contracts that do not expire. Coinbase says the planned market would operate 24 hours a day, five days a week, extending access beyond the core U.S. stock-exchange session.

The report says Coinbase is initially targeting roughly 50 to 60 stocks, with Apple, Microsoft, Tesla and Nvidia among the names under consideration. Traders would not receive the voting rights, dividends or direct ownership that come with holding the underlying shares.

The company already offers stock perpetuals in eligible markets outside the United States. This filing is its attempt to bring the structure onshore through a regulated derivatives venue rather than simply opening the offshore product to U.S. customers.

Coinbase announced the filing directly:

Single stock perps are coming to America.

Coinbase has filed to list the first set of single stock perpetual futures in the US.

Building on the progress of our live US perps market, we’re working to bring liquid, 24/5 exposure to individual stocks in the US for the first time. pic.twitter.com/NPm14LK3UR

— Coinbase 🛡️ (@coinbase) September 18, 2026

What Coinbase is asking to list

A perpetual future is a derivative contract with no expiration date. Instead of rolling into a new contract every month or quarter, a trader can keep the position open as long as margin requirements are met.

Funding payments help keep the contract price near the market it tracks.

Coinbase says its first U.S. single-stock perps would offer liquid, 24/5 exposure.

That would be a meaningful expansion of the always-open market model crypto traders already know. U.S. stock exchanges still operate around fixed sessions, while the proposed contracts could let eligible traders respond to news during most overnight hours without taking ownership of shares.

The tradeoff is leverage. Perpetual futures can magnify gains, but they can also turn a small adverse move into a forced liquidation.

Approval would not make the product equivalent to ordinary stock ownership, and it would not remove the risks that come with derivatives.

A two-agency regulatory path

The CFTC filing is one piece of a broader regulatory strategy. Coinbase Derivatives also submitted a Form 1-N notice registration to the Securities and Exchange Commission on September 1 as it seeks to operate as a national securities exchange for security futures.

The notice does not itself grant approval or switch on a product. It establishes the exchange-registration route Coinbase is pursuing for contracts that reference individual securities.

That route reflects the unusual position of single-stock futures. The products use a derivatives structure, but their underlying assets are securities, so Coinbase is building a path that involves both the SEC and CFTC rather than treating the launch like an ordinary crypto listing.

Coinbase is also seeking broker registration for the same broader effort. Together, the filings show that the company wants a regulated domestic framework before offering the contracts to U.S. customers.

Coinbase described that earlier step this month and said it planned to work with both the SEC and CFTC:

We're working to bring single stock perps to the US.

This week, we filed SEC-notice registrations for our derivatives exchange and broker.

We'll be collaborating closely with the SEC and CFTC to bring more major financial products onshore. pic.twitter.com/6wvjLXRwih

— Coinbase 🛡️ (@coinbase) September 3, 2026

The filings matter because single-stock futures sit where securities and derivatives oversight meet. Coinbase cannot simply turn the products on for U.S. customers because similar contracts are already available offshore.

The CFTC’s public product-filing record provides the regulatory trail. Until the review is complete, the correct reading is that Coinbase has applied to list the contracts, not that regulators have approved them.

Why this push matters

Coinbase already offers stock perpetual futures to eligible users outside the United States. Bringing the structure onshore would deepen the exchange’s move beyond spot crypto trading and place it in more direct competition with both traditional brokers and offshore derivatives platforms.

It would also test whether the crypto market’s continuous-trading habits can move into regulated U.S. equity derivatives. That is the bigger story here: the product may reference familiar stocks, but the market structure comes directly from crypto.

For now, traders should watch the regulatory review, the final contract specifications and the customer eligibility rules.

Coinbase has made its intention clear. The next decision belongs to the regulators.

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