Crypto perpetual futures finally come to America — accumulate Coinbase before the new revenue rolls in
The top U.S. derivatives regulator just cleared the way for crypto perpetual futures contracts — a hugely popular trading product — to be offered legally in America for the first time. Coinbase and Kalshi are first in line to launch them.
Idea
Perpetual futures are the most-traded crypto product in the world, but until now they've only been available on offshore exchanges like Binance. Bringing them onshore to regulated U.S. platforms is a big deal — it opens up a massive new revenue stream for Coinbase, which is already one of the first approved providers. More trading volume means more fees, which directly boosts Coinbase's bottom line. This is a structural, not speculative, catalyst. The main risk is that the broader crypto market is currently weak with Bitcoin ETF outflows near record levels, so timing the entry matters — wait for signs of stabilization in Bitcoin before jumping in.