U.S. just greenlit crypto perpetual futures — long Coinbase as it captures a massive new revenue stream
The main U.S. derivatives regulator just cleared the way for crypto perpetual futures contracts — a hugely popular trading product — to be offered legally on American exchanges like Coinbase for the first time. Until now, these contracts only existed on offshore platforms.
Idea
Perpetual futures contracts are the most-traded crypto product in the world, responsible for trillions in volume — but Americans have had to use offshore exchanges to access them. Now the CFTC is letting U.S.-regulated platforms like Coinbase offer them directly. This is a big revenue opportunity for Coinbase, which already received a no-action letter to proceed. When a major new product category opens up legally in the U.S., the first-mover exchange tends to see a surge in users and trading fees. Bitcoin itself could also catch a bid as easier domestic access brings more traders into the market.