CFTC just greenlit crypto perps in the U.S. — accumulate Coinbase before the volume floodgates open
The U.S. derivatives regulator just cleared the way for crypto perpetual futures contracts to trade on American exchanges for the first time. Coinbase and Kalshi are already moving to launch these products.
Idea
Perpetual futures are the most popular crypto trading instrument globally, but until now they've only existed on offshore exchanges. Bringing them onshore to regulated U.S. platforms like Coinbase massively expands the addressable market and should drive trading volume and revenue for the exchanges that get there first. Coinbase is the clear frontrunner — it's already a publicly traded, regulated U.S. crypto exchange with the infrastructure to launch quickly. This is a structural, recurring revenue catalyst, not a one-day spike, so accumulating on any near-term pullback makes sense.