Finance, Coinbase, Derivatives, perpetual contracts, Brian Armstrong, News The crypto exchange’s new derivatives offering is regulated by the CFTC and will mirror the functions of the increasingly popular perpetual contracts currently not available in the U.S.
Crypto exchange Coinbase (COIN) will start offering perpetual-style futures contracts in the U.S. on July 21, becoming one of the first regulated players to offer the globally popular product.
The new vehicle, first available with bitcoin BTC and ether ETH, will trade on the Coinbase Derivatives Exchange, a CFTC-regulated venue.
Unlike offshore perpetuals, which dominate global crypto derivatives markets but are not approved in the U.S., Coinbase’s instruments are structured as long-dated futures with five-year expirations. They incorporate a funding rate mechanism that accrues hourly and is settled twice daily to mimic the price dynamics of perpetual swaps. Trading will be available 24/7 and settlements will be handled through regulated clearing.
Separately, Coinbase CEO Brian Armstrong said the company also accumulates bitcoin on a regular basis as an investment.
“We’re buying more bitcoin every week. Long Bitcoin,” Armstrong said in a Thursday X post in response to David Bailey, CEO of the bitcoin treasury firm Nakamoto Holdings.
This comes after Coinbase CFO Alesia Haas revealed in the first quarter 2025 earnings call that the firm purchased $150 million in crypto, predominantly bitcoin. Coinbase holds 9,257 BTC worth nearly $1 billion on its corporate balance sheet and is one of the top 10 publicly-listed holders of the asset, according to the latest data compiled by BitcoinTreasuries.net.
Read more: Coinbase Comes Full Circle, Soars to Highest Price Since 2021 Nasdaq Debut
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data Read More