Coinbase Global, the Nasdaq-listed cryptocurrency exchange, sent its shares soaring 10.14% to $192.70 following confirmation that the firm has submitted regulatory notices to the U.S. Securities and Exchange Commission in order to begin providing single-stock perpetual futures products domestically.
The filings mark the first step in Coinbase’s efforts to bring equity-linked perpetual contracts which are already available to Coinbase’s international customers into the U.S. for the first time.
Due to their dual nature as both securities and futures, the exchange will require both SEC and Commodity Futures Trading Commission (CFTC) approval for any of the products to officially launch, although the company has not set forth specific launch dates, eligible stocks, or trading conditions.
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
Coinbase Files For U.S. Stock Perpetual Futures
The exchange submitted two notices on September 1, with Coinbase Derivatives filing a Form 1-N, the required form when an exchange applies to list security futures products, and a related entity, Coinbase Financial Markets, submitting a Form BD-N registering a limited-purpose security futures broker-dealer.
Under the proposed structure, Coinbase Derivatives would operate the actual trading marketplace for the contracts, while Coinbase Financial Markets would provide regulated access to the products as its broker dealer entity. Coinbase confirmed in a public statement that it is pursuing the listing of single-stock perpetuals within the U.S., with the firm’s efforts to coordinate with both federal regulators on the matter considered to be part of the process.
SEC & CFTC Approval Needed For Single Stock Futures
Due to the dual nature of single stock futures as both securities and futures, joint oversight by both the SEC and CFTC is considered to be a must, with Faryar Shirzad, Coinbase’s Chief Policy Officer describing the latest filings as simply the beginning of a lengthy regulatory process, while noting that additionally separate product approval would be required from the CFTC.
Equity perpetuals are coming onshore. This week@coinbase took the first step to offer them in the U.S on our derivatives exchange by filing notice registration documents with the @SECgov.
Equity perps have proven demand internationally, and we’re excited at the prospect of a…
— Faryar Shirzad 🛡️ (@faryarshirzad) September 3, 2026
He pointed to strong international demand for equity perpetuals as justification for pursuing a U.S. pathway, crediting improved coordination between the two regulators for making that path more viable now than in the past. It’s worth being clear that these notice filings don’t amount to final approval for commercial trading, and Coinbase has offered no timeline for when that might change.
Coinbase Builds On International Equity Perpetuals
This isn’t uncharted territory for Coinbase. The exchange already offers equity perpetual futures to eligible customers outside the U.S. through its international platform, giving traders synthetic exposure to major stocks without requiring actual share ownership.
That existing lineup spans household names including Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla, along with contracts tracking the SPY and QQQ exchange-traded funds.
These international products settle in USDC and use funding-rate mechanisms to keep contract prices aligned with their underlying reference assets, and they notably trade outside standard U.S. stock market hours.
Whether that same structure carries over to a domestic version remains unconfirmed, and any U.S. offering would face its own separate set of regulatory requirements around leverage, settlement, and trading conditions.
Coinbase Expands U.S. Derivatives Business
This latest filing fits into a broader pattern of Coinbase steadily building out its regulated derivatives footprint within the United States, adding new futures products and expanding institutional access along the way.
The exchange has increasingly pushed beyond simple spot cryptocurrency trading, layering crypto futures and other regulated financial instruments into its business model.
Should regulators eventually grant approval, single-stock perpetuals would mark another expansion of that strategy, extending Coinbase’s derivatives ambitions from crypto assets into traditional equities, though for now, the timeline for getting there remains entirely unclear.
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