US regulators just unlocked crypto perpetual futures — long Coinbase as the first-mover winner
US regulators just gave the green light for a popular type of crypto trading contract—called perpetual futures—to be offered on American exchanges for the first time. Coinbase is one of the first platforms planning to launch them.
Idea
Perpetual futures are the most heavily traded crypto instrument worldwide, but until now Americans had to use offshore exchanges to access them. Bringing this product onshore means Coinbase—the largest US crypto exchange—can capture a huge new revenue stream from traders who previously sent their money overseas. This is a genuine business expansion, not just speculation. When regulators open a new market and a dominant player steps in first, the stock tends to re-rate higher as analysts build the new revenue into their forecasts. Coinbase's trading fees and custody business could see a meaningful uplift.