Coinbase to Launch U.S. Perpetual-Style Futures on July 21
Coinbase (COIN) will launch perpetual-style futures contracts in the U.S. on July 21, making it one of the first regulated exchanges to offer this product.
- The futures will initially be available for trading with bitcoin and ether.
- Contracts will be traded on the Coinbase Derivatives Exchange, a CFTC-regulated platform.
- These instruments are structured as long-dated futures with five-year expirations.
- A funding rate mechanism will settle twice daily, simulating perpetual swap price dynamics.
- Trading will be available 24/7 with regulated clearing for settlements.
Coinbase CEO Brian Armstrong stated the company purchases bitcoin weekly as an investment. In Q1 2025, Coinbase bought $150 million in crypto, mainly bitcoin, holding 9,257 BTC valued at nearly $1 billion, ranking among the top 10 publicly listed holders of the asset.