Coinbase Files to List Single-Stock Perps on Apple, Tesla and Nvidia

In brief

• Coinbase filed with the CFTC through Coinbase Derivatives to list single-stock perpetual futures in the US, seeking to bring the popular crypto instrument to individual equities.
• Perpetual futures track an asset's price with no expiration date; Coinbase plans roughly 50 to 60 contracts—including Apple, Microsoft, Tesla and Nvidia—possibly launching later this year.
• The move extends Coinbase's onshore derivatives push amid a broader race to bring perps to U.S. traders.

Coinbase is looking to import one of crypto's most popular trading instruments into the U.S. stock market, filing to list single-stock perpetual futures with federal regulators.

The filing, submitted Friday through Coinbase Derivatives, seeks approval from the Commodity Futures Trading Commission for contracts that would give American traders leveraged exposure to individual stocks without owning the shares.

The CFTC listing shows the product, classified as a single-stock future, as approval pending. Coinbase said it filed for its "first set" of U.S. single-stock perpetuals, aiming to offer 24/5 exposure to individual equities.

Perpetual futures, or "perps," are derivatives contracts that track an asset's price but carry no expiration date, letting traders hold positions indefinitely as long as they meet margin and funding requirements.