Coinbase files to list single-stock perps on Apple, Tesla and Nvidia

Coinbase Derivatives submitted a filing on Friday seeking Commodity Futures Trading Commission approval to list single-stock perpetual futures for U.S. traders. Coinbase said the filing covers its first set of U.S. single-stock perpetuals and aims to provide 24/5 exposure to individual equities. The CFTC listing classifies the products as single-stock futures and shows their approval as pending. The Wall Street Journal reported that Coinbase plans to launch roughly 50 to 60 contracts, including contracts tied to Apple, Microsoft, Tesla and Nvidia, potentially later this year if regulators approve them. Perpetual futures, also called perps, track an asset's price and have no expiration date. Traders can hold positions indefinitely if they meet margin and funding requirements. The contracts would give traders leveraged exposure to individual stocks without requiring them to own the shares. Holding a single-stock perpetual would not provide shareholder rights, dividends or ownership. Contract specifications and leverage limits have not been fully detailed. The products require regulatory clearance before trading can begin. The filing extends Coinbase's expansion of its U.S. derivatives business. Coinbase became the first U.S. exchange cleared to offer regulated crypto perpetual futures earlier this year and later introduced contracts with leverage of up to 50x. It launched stock perps for eligible non-U.S. traders in March. The filing comes as other platforms also seek to offer perpetual futures in the United States. The CFTC approved Bitcoin perpetual futures for Kalshi, which later expanded into commodities including copper, while Polymarket moved toward offering crypto perpetual futures.