Crypto perpetual futures finally come to America — long Coinbase as the first-mover winner
The top US derivatives regulator just cleared the way for crypto perpetual futures contracts to trade on American soil for the first time. Coinbase was named as one of the first platforms approved to offer them.
Idea
Perpetual futures are by far the most heavily traded crypto product worldwide, but until now they've only existed on offshore exchanges like Binance. Bringing them to regulated US platforms is a structural shift — it opens a massive new revenue stream for Coinbase, which was explicitly named as an approved provider. Trading fees from perpetuals could meaningfully boost Coinbase's top line. Even though Bitcoin ETFs have been bleeding outflows recently, this is a business-level win for Coinbase that doesn't require crypto prices to keep rising. When a company gets a new license to sell its most popular product in the world's largest market, that's a durable tailwind worth betting on.