Coinbase (NASDAQ:COIN) has rolled out a series of updates to its futures trading offerings, culminating in the planned launch of US Perpetual-Style Futures on July 21, 2025.
These initiatives, driven by Coinbase Derivatives, LLC, a Commodity Futures Trading Commission (CFTC)-regulated exchange, aim to bridge the gap between global crypto derivatives markets and U.S. traders by offering 24/7 trading, expanded contract options, and regulated perpetual-style futures.
These developments mark a step toward making the U.S. a competitive player in the global crypto derivatives landscape, which accounts for over 75% of total crypto trading volume.
Coinbase kicked off its push for round-the-clock trading with the launch of 24/7 Bitcoin (BTC) and Ethereum (ETH) futures on May 9, 2025.
This marked the first time a CFTC-regulated exchange offered leveraged futures contracts with uninterrupted trading hours, aligning the U.S. market with the always-on nature of global crypto markets.
Previously, U.S. futures trading was limited to Sunday through Friday, with a weekly closure from 5:00 to 6:00 PM ET on Fridays and a quarterly three-hour maintenance window.
The shift to 24/7 trading eliminates these constraints, empowering traders to manage risk and seize opportunities in real-time, regardless of market hours.
This initiative was developed in partnership with Nodal Clear, a CFTC-regulated clearinghouse, and leading Futures Commission Merchants (FCMs) like ABN AMRO, Wedbush Securities, and Coinbase Financial Markets.
The robust infrastructure ensures transparency, compliance, and seamless market access for both retail and institutional traders.
Industry professionals, such as Andrew Smith from Virtu Financial, hailed the move as a “natural evolution” for U.S. crypto futures, emphasizing its role in building a more accessible and efficient derivatives market.
In its Spring 2025 update, Coinbase Financial Markets (CFM) expanded its futures lineup to include new crypto contracts like Solana (SOL), Ripple (XRP), Cardano (ADA), and Hedera (HBAR), alongside non-crypto commodities such as silver, natural gas, gold, and oil.
Plans are also underway to introduce futures on equities indices, further diversifying the platform’s offerings.
These additions cater to a range of trading strategies, with nano-sized contracts for retail traders and larger contracts for institutional players, enhancing flexibility in position sizing and capital efficiency.
The expansion of 24/7 trading to additional contracts, starting with SOL and XRP, is set to roll out in the weeks following the Spring update.
This move responds to growing demand from crypto-native traders seeking diverse, regulated instruments to execute their strategies.
Coinbase Advanced users benefit from tools like auto-sweeping of excess funds and new order types, making the trading experience more seamless and comprehensive.
The crown jewel of Coinbase’s updates is the launch of US Perpetual-Style Futures on July 21, 2025, a first-of-its-kind product in the U.S.
These contracts, starting with nano Bitcoin (0.01 BTC) and nano Ether (0.10 ETH), are designed to mirror the functionality of global perpetual futures while adhering to CFTC regulations.
Unlike traditional futures with fixed expirations, these long-dated contracts (five-year expirations) incorporate a funding rate mechanism that accrues hourly and settles twice daily, ensuring prices closely track spot markets.
This structure eliminates the need for U.S. traders to rely on offshore platforms, which often carry regulatory, custody, and counterparty risks.
Perpetual futures, which dominate global crypto trading with up to 90% of activity in some reports, allow traders to maintain positions without worrying about contract expirations, enabling long-term strategy execution and risk management.
Coinbase’s offering provides up to 20x leverage, settled in USDC, and is accessible through Coinbase Advanced for retail traders in eligible jurisdictions.
The launch has sparked enthusiasm, with Coinbase CEO Brian Armstrong emphasizing its role in meeting user demand for regulated, capital-efficient derivatives.
Coinbase’s efforts address long-standing inefficiencies in the U.S. derivatives market, where traders have been disadvantaged by limited hours and expiring contracts.
By offering 24/7 trading, diverse contract options, and perpetual-style futures, Coinbase is leveling the playing field, reducing reliance on offshore exchanges, and fostering a competitive, regulated crypto economy.
As the platform continues to expand access to retail users and integrate innovations like USDC collateral, it is poised to redefine market access, efficiency, and innovation in the U.S.
With bipartisan support and easing regulatory headwinds, Coinbase’s strategic push underscores its commitment to building a robust, user-focused crypto ecosystem.
Traders can opt for Coinbase Advanced to gain early access to these products, marking a new chapter in U.S. crypto derivatives.
