Coinbase single-stock perpetual futures could bring regulated 24/5 stock trading to the US. Learn what it filed and what remains pending.
Author: Kritika Gupta
18 September 2026 – Coinbase said it has filed to list the first single stock perpetual futures in the United States. The filing covers 50+ large-cap names. Still, the product is not live, and regulators have not signed off yet.
High Signal Summary For A Quick Glance
Barnaby LFG
@BarnabyLFG
@coinbase Single-stock perps coming to the domestic beat, Chief. Barnaby says when the traditional equities market opens its doors to 24/5 perpetual tracking, you better make sure your ledger is airtight. Case file updated. 🔍🐈⬛📈🟦 #Base #BaseStonk
Single stock perps are coming to America. Coinbase has filed to list the first set of single stock perpetual futures in the US. Building on the progress of our live US perps market, we’re working to bring liquid, 24/5 exposure to individual stocks in the US for the first time. https://t.co/NPm14LK3UR
02:47 PM·Sep 18, 2026
Global Whales
@twtlinks
@coinbase Single stock perps onchain + SEC's Innovation Exemption today = the full tokenization of U.S. equity markets is now inevitable. Coinbase is positioned perfectly as the regulated onchain exchange layer. The arc of this week is wild. 🐋 #Coinbase #Crypto #RWA
Single stock perps are coming to America. Coinbase has filed to list the first set of single stock perpetual futures in the US. Building on the progress of our live US perps market, we’re working to bring liquid, 24/5 exposure to individual stocks in the US for the first time. https://t.co/NPm14LK3UR
02:35 PM·Sep 18, 2026
Kampos
@hippokampos_b
@coinbase 24/5 single-stock exposure is less about leverage theater and more about closing the gap between crypto market hours and equities. The hard part isn't listing — it's keeping oracle, margin, and liquidation paths boring when a single name gaps.
Single stock perps are coming to America. Coinbase has filed to list the first set of single stock perpetual futures in the US. Building on the progress of our live US perps market, we’re working to bring liquid, 24/5 exposure to individual stocks in the US for the first time. https://t.co/NPm14LK3UR
01:44 PM·Sep 18, 2026
Steady attention without excessive speculation.
Coinbase posted the news on X at 13:03 GMT. According to the company, it wants to bring liquid, 24/5 exposure to individual US stocks for the first time. So this is a filing to list, not a launch.
Coinbase Derivatives, LLC is the listing venue. It is a CFTC-registered Designated Contract Market. In short, it is a regulated US futures exchange.
The company’s markets account added detail 30 seconds later. According to Coinbase Markets, the firm filed to list “50+ single stock perps for the biggest names in the US market.” The listed features are around-the-clock exposure, no expirations, and a regulated US venue.
Notably, the official wording is 24/5, not 24/7. That matches the stock-market calendar, which closes on weekends. By comparison, Coinbase runs its US crypto perps 24/7.
A perpetual future tracks a price with no expiry date. As a result, traders can hold long or short as long as they post margin. Instead of a roll at expiry, a funding rate keeps the contract near the underlying price.
This filing sits on a two-agency path. It is not a CFTC-only crypto self-certification. So both the SEC and the CFTC are involved.
Coinbase first filed SEC Form 1-N on 1 September 2026. That notice, File 10-252, registers Coinbase Derivatives as a securities exchange solely to trade security futures. The Federal Register acknowledged receipt on 8 September. Coinbase also filed Form BD-N for its broker-dealer the same day.
Then comes the CFTC. Chief Policy Officer Faryar Shirzad flagged the sequence on 3 September. According to Reuters, he said the next step is product approval with the CFTC.
For now, that approval is still pending. The Wall Street Journal card that Coinbase linked also says launch is later this year, pending regulatory approval. So the single stock perpetual futures product remains a proposal.
Coinbase’s path to U.S. single-stock perpetual futures
Coinbase Derivatives launches its first U.S. perpetual-style crypto futures, establishing regulated infrastructure for no-expiry products.
The CFTC approves Kalshi’s BTCPERP as a futures contract, supporting a clearer path for perpetual futures on regulated U.S. venues.
CFTC staff grants relief allowing Coinbase Derivatives and Bitnomial to remove expiry dates from existing perpetual-style crypto futures.
Coinbase files SEC Form 1-N and Form BD-N notices, entering the joint SEC–CFTC framework required for security futures.
Coinbase files to list more than 50 single-stock perpetual futures with 24/5 trading and no expiration. The contracts are not yet live.
The proposed contracts must complete the relevant SEC–CFTC review process. Final contract specifications also remain unpublished.
Coinbase plans to launch the contracts later in 2026, subject to regulatory approval. It has not confirmed an exact launch date.
Coinbase has not published an official contract list. Instead, the named tickers come from reporting. According to the Wall Street Journal, the plan covers roughly 50 to 60 large caps. It names Apple, Microsoft, Tesla, and Nvidia as examples.
Coinbase already runs a template offshore. On 20 March 2026, Coinbase International launched Mag7 stock perps for non-US users. Those offer up to 10x leverage and settle in USDC. Even so, that offshore list is not the certified US schedule.
Many key terms remain unknown. Coinbase has not published the leverage cap, the margin rules, the funding interval, or the settlement asset. It also has not set a launch date. So traders cannot yet size the product against options or offshore perps.
A perp on Bitcoin can sit inside the CFTC’s commodity-futures box. A perp on Apple cannot. Because Apple is a security, the derivative touches securities law.
This is the old Shad-Johnson problem. That 1982 accord banned US single-stock futures for nearly two decades. Neither agency would accept the other’s margin and suitability rules.
The Commodity Futures Modernization Act of 2000 then lifted the ban. It created “security futures” under joint SEC-CFTC oversight. OneChicago launched single-stock futures in 2002. However, they never reached mass retail because of dual regulation and high margins.
Single-stock derivatives compared
A live legal fight sits in the background. On 18 June 2026, CME Group sued the CFTC over its approval of Kalshi’s crypto perpetual contract. CME argues that a no-expiry contract paying ongoing funding is a swap, not a future.
That question matters here too. Coinbase, though, is trying to sidestep the fight. By parking equity perps in the security-futures statute, it avoids the CFTC-only box that CME is attacking.
Even so, the approach is untested. The security-futures law is 25 years old. Applying it to a funding-rate perpetual is new, and both agencies still have to agree.
Coinbase is no longer alone in the queue. According to The Block, Crypto.com filed a similar Form 1-N and also plans US stock perps. So the race to onshore these products is now crowded.
Markets reacted to the news flow. COIN closed up 10.14% at $192.70 on 3 September, when the SEC notices landed. On 18 September, the stock traded near $185, up about 6% intraday. Still, Bitcoin also rose that morning, so the filing is not the only driver.
The next real signal is a CFTC product order. Watch the CFTC portal for a certification number and Coinbase for a published contract spec. Until then, treat the single stock perpetual futures plan as filed, not final. This is not financial advice.
Our Crypto Talk is committed to unbiased, transparent, and true reporting to the best of our knowledge. This news article aims to provide accurate information in a timely manner. However, we advise the readers to verify facts independently and consult a professional before making any decisions based on the content since our sources could be wrong too. Check our Terms and conditions for more info.
