Coinbase to Launch Perpetual-Style Futures in the U.S. Amid Bitcoin Accumulation

The crypto exchange Coinbase (COIN) is set to start offering perpetual-style futures contracts in the U.S. on July 21, positioning itself among the first regulated entities to provide this globally favored product.

This newly introduced financial instrument will initially focus on Bitcoin and Ether, and it will be available for trade on the Coinbase Derivatives Exchange, a venue regulated by the CFTC.

Key Highlights:

Coinbase’s launch will provide U.S. traders access to highly sought-after instruments while operating within regulatory bounds.
CEO Brian Armstrong revealed that the company is actively purchasing Bitcoin on a weekly basis.
These efforts signify Coinbase’s deeper commitment to enhancing its crypto infrastructure, particularly as U.S. regulatory barriers begin to soften.

The instruments will be structured as long-dated futures with five-year expirations, featuring a funding rate mechanism that accrues hourly and settles semi-daily to align with the price behavior of perpetual swaps. Trading will be 24/7, facilitated by regulated clearing services.

In a recent post, Armstrong stated, “We’re buying more Bitcoin every week. Long Bitcoin,” highlighting the company’s investment strategy. This follows a quarterly earnings call in which CFO Alesia Haas disclosed that Coinbase had acquired $150 million in crypto, mainly in Bitcoin, placing them among the top public holders of this asset. As of now, Coinbase possesses 9,257 BTC, nearly valued at $1 billion.