US regulators just opened the door to crypto perpetual futures — grab Coinbase before the volume surge
The top 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 first in line to offer these products, which have until now only existed on offshore exchanges.
Idea
Perpetual futures are the most popular crypto trading product in the world — they've only existed on offshore exchanges like Binance until now. Bringing them onshore to regulated U.S. platforms is a huge deal because it unlocks a massive new revenue stream for Coinbase, which is already approved to offer them. When new financial products get regulatory approval, the companies first in line typically see a meaningful bump in trading volume and fees over the following weeks and months. This is a structural, not a one-day, catalyst — it changes the long-term earnings potential for crypto exchanges operating in the U.S.