Coinbase seeks SEC approval for round-the-clock equity perpetuals
DeFi & Yields ·
Coinbase has asked U.S. regulators to let it list perpetual futures contracts tied to individual stocks, a product that would trade continuously rather than on standard market hours.
The exchange filed notice registrations with the Securities and Exchange Commission to offer single-stock perpetual contracts, according to The Block. Because the product would combine equity exposure with a derivatives structure, Coinbase also needs sign-off from the Commodity Futures Trading Commission before it can launch, splitting jurisdiction between the two regulators.
Equity perpetuals differ from conventional stock derivatives in that they carry no expiration date, letting holders maintain a position indefinitely as long as they meet margin requirements. Pairing that structure with 24/7 trading would mark a departure from the fixed-hours model that has governed U.S. equity and options markets, extending the always-on trading pattern already common in crypto to instruments referencing individual companies' shares.
The filing has drawn separate confirmation from other outlets tracking the same registrations; coverage from wublockchain.xyz likewise describes Coinbase's move to file for SEC approval of equity perpetuals trading in the U.S. Four distinct sources have reported on the filings, pointing to the same underlying regulatory submissions rather than a single account.
The push fits a broader pattern of exchanges extending derivatives access and trading hours across jurisdictions. CME Group extended its own crypto futures and options to 24/7 trading in mid-2026 and introduced Bitcoin volatility futures as a new product line, a shift described as a structural concession to markets that no longer pause outside conventional hours. Coinbase has also been expanding its derivatives footprint abroad, having secured an Australian Financial Services Licence that unlocks retail crypto derivatives and perpetual contracts in that market, and pursuing a broader derivatives and tokenized-asset push in Canada.
What remains unresolved is timing and scope: neither the SEC nor the CFTC has issued a public decision on the notice registrations, and it is not yet known which stocks or how many would be eligible for perpetual contracts if approval is granted, nor what margin, custody, or trading-hour rules either regulator might impose. How the two agencies coordinate given their overlapping jurisdiction over a hybrid equity-derivatives product is also unclear, and will likely shape whether other exchanges pursue similar filings.