TLDR
- Coinbase has launched CFTC-regulated perpetual futures for U.S. retail traders.
- The new contracts include nano Bitcoin and nano Ether with leverage of up to 10x.
- All contracts are settled in U.S. dollars and trading is available 24 hours a day.
- The products are designed to comply with CFTC rules while mimicking traditional perpetuals.
- Coinbase aims to offer a regulated alternative to offshore crypto derivatives platforms.
Coinbase has introduced regulated perpetual futures for U.S. retail traders, marking a major expansion of its derivatives offerings. The contracts include nano Bitcoin (BTC-PERP) and nano Ether (ETH-PERP) with leverage of up to 10x. This move provides an onshore option that competes directly with offshore platforms under CFTC oversight.
The contracts are launched through Coinbase Financial Markets and follow a federally regulated structure. They are designed to offer traders exposure to crypto derivatives in a compliant and transparent environment. Coinbase is positioning itself as a leading U.S. derivatives exchange amid rising competition.
Each perpetual futures contract features hourly funding rates and a five-year expiration to simulate traditional perpetuals while staying compliant. This structure helps balance long and short positions within the framework set by the Commodity Futures Trading Commission. Additionally, settlements occur in U.S. dollars, and trading operates around the clock.
Nano Bitcoin Contracts Expand U.S. Access
The nano Bitcoin (BTC-PERP) contract allows U.S. traders to access perpetual futures with enhanced capital efficiency. Coinbase enables leverage of up to 10x, and taker fees start at 0.02% for active participants. This opens a regulated path for traders who previously used unregulated offshore platforms.
Coinbase aims to reclaim the market share of derivatives from overseas exchanges by offering domestic institutional-grade infrastructure. The introduction of nano Bitcoin contracts provides direct exposure to BTC price movements without requiring full asset ownership. Coinbase designed these contracts to meet regulatory standards while offering competitive features.
As these products are settled in U.S. dollars and traded 24/7, they match global market availability. The structure supports constant access, aligning with the always-open nature of digital assets. This enables traders to respond to global crypto price action in real time.
Ether Futures Add Depth to Coinbase Derivatives
Nano Ether (ETH-PERP) contracts complement Coinbase’s Bitcoin futures, expanding access to Ethereum-based perpetual instruments. The company structured them identically to its Bitcoin offering, maintaining consistency across its platform. Traders can now use these futures to hedge or speculate with up to 10x leverage.
The wait is over – Perpetual futures have arrived in the U.S.
→ No monthly expirations
→ Trade with up to 10x leverage
→ Fees as low as 0.02%Now you can trade perpetual-style futures on Coinbase Financial Markets, a secure and CFTC-regulated platform. pic.twitter.com/627ZOPTTzG
— Coinbase Futures (@cbFutures) July 21, 2025
This launch reinforces Coinbase’s strategy to offer broader exposure through federally regulated products. Ethereum’s market significance makes it a logical addition to the derivatives suite. The contracts also feature hourly funding, five-year expirations, and USD settlements.
Coinbase plans to introduce futures on additional crypto assets, including Solana and XRP. These listings aim to diversify its offerings and attract a wider trading base. As demand grows, Coinbase expects increased engagement from U.S. retail and institutional clients.
Coinbase Strengthens Global Position with Strategic Moves
Coinbase recently acquired Deribit for $2.9 billion to solidify its global derivatives presence. This acquisition expands its reach and improves liquidity across markets. The company now competes directly with established global players.
TIME recognized Coinbase among the 100 Most Influential Companies of 2025 for its policy efforts and market expansion. Coinbase stock has gained 42% year-to-date, driven by favorable regulation and strong performance. The firm was also added to the S&P 500 in May.
Coinbase is expanding in Europe by securing a MiCA license through Luxembourg’s financial regulator. To support continental operations, it will establish its EU headquarters in Luxembourg.
