Coinbase Wants 24/5 Nvidia & Tesla Perps on the Menu — Wall Street Says 'Hold My 9-to-5' 📈

Coinbase has filed with the Commodity Futures Trading Commission to list single-stock perpetual futures in the United States, seeking to bring a derivatives structure widely used in crypto markets to individual US equities. The filing, submitted Friday through Coinbase Derivatives, covers contracts that would give US traders 24/5 exposure to individual stocks without owning the underlying shares.

The Wall Street Journal reported on Friday that Coinbase plans to initially offer perpetual futures tied to roughly 50 to 60 stocks, including Apple, Microsoft, Tesla and Nvidia. Coinbase confirmed on September 18 that it filed to list more than 50 single-stock perpetual futures on its regulated US exchange, describing the planned offering as the first U.S. single-stock perpetual futures product, subject to the required regulatory process. "Crypto was first, now it's time for stocks," Coinbase said when announcing the filing.

Unlike standard futures contracts with set expiration dates, perpetual futures use regular funding payments to help keep contract prices close to their underlying assets and can remain open as long as traders meet margin requirements. Traders can also use leverage, which increases exposure while raising the size of possible gains or losses. Coinbase said the proposed products would offer "around-the-clock exposure" without expiration dates.

Coinbase already operates a U.S. perpetual futures market for cryptocurrency products and offers stock perpetual futures to eligible traders outside the United States, having launched the product in March with contracts tracking major US stocks and indexes, including Apple and Nvidia. At the time, the company said the products were unavailable to US persons but that it was working to expand the offering to additional regions.

The CFTC filing follows an earlier regulatory step by Coinbase Derivatives, which filed a Form 1-N with the Securities and Exchange Commission on Sept. 1 to register as a national securities exchange for the purpose of offering security futures. The proposed contracts are classified by the CFTC as single-stock futures and remain pending regulatory approval.