In the coming weeks, Coinbase Derivatives, LLC, a futures exchange regulated by the CFTC, will launch the first 24/7 Bitcoin and Ethereum futures contracts in the United States. This innovation will provide U.S. traders with round-the-clock access to manage risks and capitalize on opportunities in the crypto market. Additionally, Coinbase is working on introducing perpetual-style futures contracts, a much-needed product for U.S. traders. These changes aim to make U.S. markets more accessible and competitive, aligning with global crypto market standards.
The Next Era of U.S. Futures Trading
Global crypto markets are largely driven by derivatives, which account for over 75% of all trading volume. However, much of this activity has occurred outside of the U.S., where markets operate 24/7 and offer futures contracts without fixed expiry dates. In contrast, U.S. traders have been confined to fixed trading hours and expiring contracts, which can lead to inefficiencies, especially for those managing crypto exposure.
In response to strong demand from crypto-native U.S. traders, Coinbase Derivatives aims to improve access to regulated futures markets, providing a transparent and competitive platform. The goal is to equip traders with the tools needed to manage risk and seize opportunities in the crypto space, on their terms.
24/7 Access to Bitcoin and Ethereum Futures
Currently, U.S. futures markets operate within fixed trading hours, which do not align with the 24/7 nature of cryptocurrency markets. This gap forces traders to wait during key market movements, limiting their ability to act in real-time. Coinbase’s launch of 24/7 Bitcoin and Ethereum futures will close this gap, allowing U.S. traders to trade at any time.
Key benefits of this launch include:
Nonstop Trading: U.S. traders will no longer have to wait for markets to open. Crypto spot markets trade 24/7, and now, the futures market will too.
Flexible Contract Sizes: Whether you’re a retail trader or an institution, Coinbase will offer nano and large-sized contracts, catering to various trading strategies.
Institutional-Grade Infrastructure: Through a partnership with Nodal Clear, Coinbase ensures CFTC-regulated clearing, while Coinbase Financial Markets will provide seamless market access from day one.
Introducing Perpetual-Style Futures in the U.S.
Alongside 24/7 trading, Coinbase is working to introduce perpetual-style futures contracts. These contracts will have long-dated expirations, designed to match the global crypto derivatives market while adhering to U.S. regulatory standards.
Why does this matter?
Trading Without Time Constraints: Perpetual futures allow traders to hold positions indefinitely, offering the flexibility to execute long-term strategies and manage risks without worrying about contract expirations.
Bridging the Gap for U.S. Traders: While perpetual futures are already available on global markets, U.S. traders have previously lacked access, restricting their trading flexibility.
A Competitive Edge: A regulated perpetual-style futures product in the U.S. ensures traders can execute strategies efficiently without relying on offshore markets.
Coinbase has been actively working with the CFTC, market participants, and partners to finalize the design of these contracts and ensure they meet both regulatory requirements and the needs of traders.
A Call to Action for the Industry
For years, the U.S. has lagged behind in offering crypto derivatives. Now, with 24/7 access to Bitcoin and Ethereum futures and the development of perpetual-style contracts, Coinbase is pushing for a regulated, accessible, and innovative futures market. These changes will help U.S. markets become more competitive and aligned with the global cryptoeconomy.
Coinbase invites FCMs, market participants, and institutions to join them in building the next generation of global crypto derivatives. The evolution of U.S. markets begins now.
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