U.S. just legalized crypto perps — long Coinbase as it opens a massive new revenue stream
The top U.S. derivatives regulator just gave the green light for crypto perpetual futures contracts to trade on American soil for the first time. Coinbase and Kalshi are first in line to offer them.
Idea
Perpetual futures are the most popular crypto trading product worldwide, but until now Americans could only access them through offshore exchanges. Bringing them onshore is a huge revenue opportunity for Coinbase, which is already approved to offer them. Think of it like a casino getting permission to open a new, extremely popular table game — the revenue bump could be meaningful. This is the kind of regulatory clarity the crypto industry has been begging for, and it comes at a time when sentiment around digital assets is already improving. If Bitcoin rebounds from its recent ETF outflow slump, Coinbase could catch a double tailwind from higher trading volumes and this new product launch.