US regulators just unlocked crypto perpetual futures — accumulate Coinbase before the revenue hits
The main U.S. derivatives regulator just said crypto perpetual futures — a hugely popular trading product that until now only existed on offshore exchanges — can now be offered onshore by registered platforms like Coinbase. This unlocks a massive new revenue stream for the companies that get there first.
Idea
Perpetual futures are the single most-traded crypto instrument globally, but until now Americans had to use offshore, unregulated platforms to access them. Bringing this product onshore is a structural game-changer for Coinbase specifically — it's one of only two firms named as ready to launch. This isn't just a one-day headline; it's a new, recurring revenue stream that could meaningfully boost trading fees over the next several quarters. The risk is that bitcoin itself is weak right now (ETF outflows are at a record streak), so the trade works best if you pair the Coinbase long with a check that the broader crypto market isn't collapsing.