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Coinbase Brings 24/7 Stock Perpetuals to the US
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Coinbase has filed two notices with the Securities and Exchange Commission (SEC) to offer single-stock perpetual futures to U.S. traders, and its policy chief says the Commodity Futures Trading Commission (CFTC) must sign off next.
Key facts
- Shares of Coinbase (Nasdaq: COIN) rose 10.14% to $192.70 following the announcement
- In June, CEO Brian Armstrong said the platform “now includes pre-IPO perps, stock options, and tokenized stocks soon,” with the derivatives push underpinned by the company’s $2.9 billion acquisition
- Coinbase launched the stock version for non-U.S. customers on March 20 with the initial lineup covering the so-called Magnificent Seven, i.e
- Coinbase has filed two notices with the Securities and Exchange Commission (SEC) to offer single-stock perpetual futures to U.S. traders, and its policy chief says the Commodity Futures Trading
Summary
Coinbase Derivatives filed Form 1-N and Coinbase Financial Markets filed Form BD-N with the SEC on Sept. 1. The firm’s shares jumped 10% to $192.70 on the news, but CFTC product approval is still needed before launch. Coinbase has offered 10x perps on Apple, Nvidia and Tesla to non-U.S. users since March 20, settled in USDC. The filings, dated Sept. 1, cover two regulated arms.