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Coinbase Sets U.S. Perpetual-Style Futures Launch as CEO Says Firm Is Buying Bitcoin Weekly
The crypto exchange's new derivatives offering is regulated by the CFTC and will mirror the functions of the increasingly popular perpetual contracts currently not available in the U.S.
What to know:
- Coinbase will launch U.S. perpetual-style futures contracts on July 21, giving domestic traders access to the increasingly popular instrument in a regulated manner.
- CEO Brian Armstrong also revealed the company is actively accumulating bitcoin on a weekly basis.
- The moves reflect Coinbase’s push deeper into crypto-native infrastructure as regulatory headwinds ease in the U.S.
In this article
Crypto exchange Coinbase (COIN) will start offering perpetual-style futures contracts in the U.S. on July 21, becoming one of the first regulated players to offer the globally popular product.
The new vehicle, first available with bitcoin
and ether {{ETH}}, will trade on the Coinbase Derivatives Exchange, a CFTC-regulated venue.STORY CONTINUES BELOW
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Unlike offshore perpetuals, which dominate global crypto derivatives markets but are not approved in the U.S., Coinbase’s instruments are structured as long-dated futures with five-year expirations. They incorporate a funding rate mechanism that accrues hourly and is settled twice daily to mimic the price dynamics of perpetual swaps. Trading will be available 24/7 and settlements will be handled through regulated clearing.
Separately, Coinbase CEO Brian Armstrong said the company also accumulates bitcoin on a regular basis as an investment.
"We're buying more bitcoin every week. Long Bitcoin," Armstrong said in a Thursday X post in response to David Bailey, CEO of the bitcoin treasury firm Nakamoto Holdings.
This comes after Coinbase CFO Alesia Haas revealed in the first quarter 2025 earnings call that the firm purchased $150 million in crypto, predominantly bitcoin. Coinbase holds 9,257 BTC worth nearly $1 billion on its corporate balance sheet and is one of the top 10 publicly-listed holders of the asset, according to the latest data compiled by BitcoinTreasuries.net.
Read more: Coinbase Comes Full Circle, Soars to Highest Price Since 2021 Nasdaq Debut
Krisztian Sandor
Krisztian Sandor is a U.S. markets reporter focusing on stablecoins, tokenization, real-world assets. He graduated from New York University's business and economic reporting program before joining CoinDesk. He holds BTC, SOL and ETH.
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Crypto Hackers Capitalize on ETH Surge, Offloading $72M This Week
Three high-profile exploiters have taken advantage of ether’s rally to liquidate stolen funds, pocketing tens of millions in extra profits.
What to know:
- Ethereum’s rally to $4,780 has significantly increased the value of stolen assets from three major exploits, enabling attackers to cash out tens of millions in additional gains.
- The Radiant Capital hacker gained $48.3 million over the initial $53 million theft, the Infini attacker added $25.15 million to their $49.5 million haul, and an unidentified hacker made $9.76 million by liquidating their stash this week.
- These cases underscore a brutal 18 month stretch for crypto security, with $3.1 billion lost to hackers in the first half of 2025 and $1.49 billion stolen in 2024.
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