@Coinbase has taken a formal regulatory step toward offering single-stock perpetual futures to American traders, filing notice registrations with the Securities and Exchange Commission (SEC)
@Coinbase has taken a formal regulatory step toward offering single-stock perpetual futures to American traders, filing notice registrations with the Securities and Exchange Commission (SEC) on September 1, 2026.
Coinbase Derivatives filed Form 1-N to register as a security futures exchange, while Coinbase Financial Markets submitted Form BD-N as a limited-purpose security futures broker-dealer.The company said it will work closely with both the SEC and the Commodity Futures Trading Commission (CFTC).
Perpetual futures are derivative contracts that track the price of an underlying asset with no expiry date, using continuous funding payments instead of settlement. They are a staple of crypto trading, and the proposal would extend that same structure to single-name equities.The move could give U.S. traders leveraged exposure to individual stocks without owning the underlying shares.
"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," @Coinbase wrote on X.
Faryar Shirzad, Coinbase's Chief Policy Officer, said demand for equity perpetual futures has already been demonstrated in overseas markets, framing the filing as a step toward regulated access for U.S. investors.
The filing itself does not authorize trading. SEC registration is the first stage, with CFTC approval positioned as the next milestone before any U.S. rollout can occur.The filings do not provide a launch date, a list of supported stocks, or proposed leverage limits.
Coinbase already offers stock perpetual futures to eligible customers outside the U.S. The company launched the products in March 2026, giving traders access to leveraged exposure to U.S. stocks through its regulated derivatives platform. The non-U.S. contracts include exposure to major companies such as Apple, Microsoft, and Tesla.The contracts are cash-settled in USDC, with leverage of up to 10 times for individual stock contracts and up to 20 times for ETF products.
The filing also arrives during a broader regulatory debate. In June, CME Group sued the CFTC over the regulator's treatment of crypto perpetuals offered through platforms including Coinbase and Kalshi, arguing that perpetual contracts fit the definition of swaps under the Dodd-Frank Act and should not be regulated as ordinary futures.The CFTC rejected CME's position and called the case "frivolous." No final ruling has invalidated the regulator's existing route for crypto perpetual contracts.
Sources:Crowdfund Insider: Coinbase Files With The SEC To Bring 24/7 Single-Stock Perpetuals OnshoreTechTimes: Coinbase Files for Domestic Stock Perps Under Security FuturesBlockonomi: Coinbase Files SEC Notices to Launch Single-Stock Perpetuals in the U.S.
