Coinbase [COIN] is close to launching single-stock perpetual trading in the United States. As such, the company filed two notices with the U.S. Securities and Exchange Commission (SEC) for approval of its derivatives exchange and broker.
These products from Coinbase are already available to offshore users. However, the U.S. approval was yet to be confirmed as the company looked to bring more major financial products onshore.
How stocks are becoming crypto for US citizens
Getting into the details, these filings are the first regulatory step toward offering equity perpetual futures for U.S. investors. Coinbase classifies the product as “security futures” under existing law.
If approved by the SEC, the two filings would allow U.S. citizens to trade stock perpetuals with leverage and no expiration date. This product has powered crypto derivatives for years, but it now targets stocks.
The bigger story is the 24/7 access to the products and their large user base of more than 75 million. Still, issuers like Ondo Finance [ONDO] and Robinhood are bringing competition, especially during weekends.
Meanwhile, the exchange also launched 23 crypto derivatives for Canadian users with up to 10x leverage. They cover futures contracts for Bitcoin [BTC], Ethereum [ETH], Solana [SOL], and more.
What leaders had to say!
Coinbase’s leadership was quick to back this initial milestone to bring perpetual stock trading to the US. CEO Brian Armstrong reacted, saying,
Job’s not finished.
Chief Policy Officer at Coinbase, Faryar Shirzad, said there was proven demand for equity perps internationally. He noted the next step was getting approval from the Commodity Futures Trading Commission (CFTC).
However, there were reservations. Faryar Shirzad said,
The coordination between the SEC and CFTC making this possible is long overdue – and it’s exactly what needs to happen for the U.S. to stay competitive on products investors already want. This is only the beginning.
Director of Base Growth, Antonio García Martínez, praised the product, saying it was set up for success in years to come.
COIN shares surge by double figure in hours
Consequently, Coinbase stock gained over 10% during this period, with the price increasing by $17.74. However, COIN is still down about 15% year-to-date (YTD).
Other crypto stocks like Bitmine [BMNR], Robinhood [HOOD], and Strategy ticked up by 17% each. This indicates that the gains also came from the market-wide strength in crypto stocks.
Final Summary
- Coinbase files two SEC notices to bring single-stock perpetuals to the US, with a search for CFTC’s approval next.
- COIN shares rally by more than 10% upon filing as crypto stocks rebound from a sell-off in the first half of 2026.