U.S. just legalized crypto perpetual futures — accumulate Coinbase before the new products launch
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 been available on offshore platforms.
Idea
Perpetual futures are the most popular crypto trading product in the world, but until now Americans had to use offshore exchanges to access them. Bringing them onshore to regulated U.S. platforms like Coinbase is a huge revenue opportunity — these contracts generate massive trading fees because they never expire and are traded around the clock. Coinbase is the biggest winner here because it already has tens of millions of verified U.S. users who will now be able to trade perps directly. When major regulatory barriers fall, the first-movers typically see a multi-week bid as the market re-rates their earnings potential higher.