Coinbase Drops "System Update" and Outlines an Everything Menu: Options, Pre-IPO Perps, and an AI Advisor

Coinbase outlined plans to expand beyond its core crypto offerings at a "System Update" event, announcing new products spanning equity options, perpetual-style stock indexes, pre-IPO contracts, event-based predictions, and an SEC-registered AI investment advisor. The moves form part of the exchange's stated push to become an "Everything Exchange."

The company said it will begin offering stock options this summer, with crypto options set to launch later this year. It also plans to roll out perpetual-style stock indexes available for trading 24/7, including to U.S. users. The announcement follows Coinbase's earlier disclosure that it intends to list tokenized equities on its platform, which the firm said will be backed 1:1 and are distinct from derivatives or IOUs.

Coinbase also confirmed an expansion of its pre-IPO perpetuals lineup, designed to give users early exposure to privately held companies, including AI labs OpenAI and Anthropic. The exchange previously introduced pre-IPO perpetual products tied to selected private firms.

In addition, Coinbase said time-based predictions are now live on its platform, allowing users to trade the future prices of crypto assets including Bitcoin ($BTC), Ethereum ($ETH), Solana ($SOL), XRP, and Hyperliquid, with contract durations ranging from 15 minutes to one year. The exchange also unveiled what it described as an SEC-registered AI investment advisor.

Shares of Coinbase ($COIN) rose to $170 following the announcements, reflecting investor reaction to the product roadmap disclosed at the event.