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Coinbase filed a notice registration form with the US Securities and Exchange Commission (SEC) this week seeking approval to list equity perpetual futures contracts, Chief Policy Officer Faryar Shirzad announced Sept. 3.
Perpetual futures, often called perps, are contracts with no expiration date that allow traders to speculate on asset prices without holding the underlying asset. Most of this market currently runs through offshore platforms that fall outside US regulatory oversight.
SEC Approval Is Only the First Step
Shirzad said that clearing the SEC is not the end of the process. Coinbase would still need sign-off from the Commodity Futures Trading Commission (CFTC) before the products can go live for US investors. “Equity perps have proven demand internationally, and we’re excited at the prospect of a regulated pathway for US investors,” he said.
The exchange launched perpetual futures in March for users outside the United States, covering stocks including Apple, Microsoft, NVIDIA and Amazon. The new filing would extend that product to a domestic, regulated audience if both agencies approve it.
The CFTC took its first step toward onshore perps in May, when staff cleared KalshiEX and Coinbase to list <a href="https://xpertsstudio.com/bitcoin-falls-below-80k-as-hot-jobs-report-revives-fed-hike-bets/” title=”Bitcoin Falls Below $80K as Hot Jobs Report Revives Fed Hike Bets”>Bitcoin (BTC) perpetual futures contracts in the US. The agency followed that in June with a public request for comment on crude oil perpetual contracts and around-the-clock trading.
Hyperliquid Moves Toward US Market Entry
The broader push to bring perpetual futures under US regulation has drawn attention to Hyperliquid (HYPE). In August, President Donald Trump said at the White House that CFTC Chair Michael Selig was working to bring Hyperliquid into the US in a “fully compliant and legal fashion.”
Related Article: Coinbase Launches Regulated Crypto Futures in Canada With 10x Leverage
Bloomberg reported that Hyperliquid Labs is in talks with Payward, the parent company of crypto exchange Kraken, about a deal that could support a US market entry. The report added another dimension to a regulatory environment that is moving quickly to bring offshore derivatives activity onshore.
Coinbase’s SEC filing, if approved by both regulators, would give US investors domestic access to a product category that has until now been available primarily through platforms operating outside US jurisdiction.
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Source: coinmarketcap.com