Coinbase has launched CFTC-regulated perpetual futures for US retail traders, providing an onshore alternative to offshore derivatives giants.
Key Takeaways:
Coinbase has launched CFTC-regulated nano BTC and ETH perpetual futures. The new products offer up to 10x leverage for US retail traders. Coinbase plans to expand its product lineup, targeting more cryptocurrencies.The launch introduces nano Bitcoin (BTC-PERP) and nano Ether (ETH-PERP) contracts through Coinbase Financial Markets, allowing leverage of up to 10x with taker fees starting at 0.02%, the exchange said in a Monday announcement.
Perpetual contracts, derivatives with no expiry date, have traditionally made up the lion’s share of global crypto derivatives volume.
US Traders Exit Shadows as Regulated Futures Arrive
U.S. traders were long sidelined by regulatory barriers, pushing many toward unregulated offshore platforms, often at the expense of transparency and legal risk.
Coinbase’s move changes that narrative, bringing these instruments within a federally regulated framework overseen by the Commodity Futures Trading Commission (CFTC).
The contracts are structured to mimic traditional perpetuals while maintaining regulatory compliance, with five-year expirations and hourly funding rates to balance long and short positions.
Settlements are conducted in USD, and trading is available 24/7, an industry standard in crypto that aligns with the global nature of digital assets.
Coinbase’s rollout comes amid a broader push by U.S.-based exchanges to reclaim market share from overseas rivals.
The firm recently acquired Deribit for $2.9 billion, positioning itself as a serious player in crypto derivatives.
Kraken has also quietly launched its own CFTC-compliant perps via Kraken Pro, reflecting renewed domestic interest in regulated access to leverage products.
Beyond BTC and ETH, Coinbase hinted at future listings tied to other major cryptocurrencies, including Solana and XRP, as it builds out a more comprehensive offering.
The company also offers 20x leverage for precious metals like silver and gold, appealing to traders seeking broader exposure across asset classes.
“U.S. traders can now access enhanced capital efficiency and amplify their market positions within a secure, regulated framework,” the exchange said.
Coinbase Named TIME ‘Disruptor’
As reported, TIME has recognized Coinbase as one of 2025’s 100 Most Influential Companies, labeling the crypto exchange a “disruptor” for its significant role in shaping US digital asset policies and markets.
The accolade highlights Coinbase’s aggressive advocacy in Washington and its expanding influence in the crypto sector.
Coinbase’s stock has surged 42% year-to-date, climbing from around $303 to a high near $382.
The rise comes amid the passage of the GENIUS stablecoin bill and Coinbase’s historic inclusion in the S&P 500 in May.
TIME noted the exchange as a key driver behind the industry’s policy efforts and predicted Coinbase could become the central hub for crypto trading in the US.
Beyond the US, Coinbase is broadening its reach in Europe, securing a license under the EU’s MiCA regulatory framework through Luxembourg’s financial regulator.
The company plans to establish its European headquarters in Luxembourg.
Additionally, Coinbase is seeking SEC approval to offer tokenized equities, which would position it as a competitor to popular retail trading platforms like Robinhood and WeBull.
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