- Coinbase launches 24/7 Bitcoin and Ethereum futures in the U.S., first regulated platform to offer nonstop crypto derivatives trading.
- CFTC-cleared trades via Nodal Clear ensure compliance; perpetual futures with Virtu, ABN AMRO, and Wedbush set for rollout.
Coinbase has introduced round-the-clock Bitcoin and Ethereum futures trading in the U.S., becoming the first federally regulated platform to offer continuous derivatives access. The service, operated through its subsidiary Coinbase Derivatives, allows investors to trade seven days a week, including weekends—a feature previously unavailable in the country’s regulated crypto market.
The platform clears trades via Nodal Clear, another entity overseen by the Commodity Futures Trading Commission (CFTC). This structure ensures adherence to federal guidelines while addressing risks common in derivatives markets.
Coinbase Derivatives CEO Boris Ilyevsky stated the launch followed prolonged discussions with regulators, framing it as progress toward aligning crypto markets with traditional financial standards.
Expansion Plans and Institutional Backing
Coinbase aims to broaden its derivatives offerings with perpetual futures contracts in the coming months. These contracts, which lack expiration dates, will be supported by institutional partners such as Virtu Financial, ABN AMRO, and Wedbush Securities. This aligns with Coinbase’s strategy to attract professional traders and hedge funds seeking sophisticated crypto instruments.
The launch follows Coinbase’s March announcement of its derivatives ambitions and its recent $2.9 billion acquisition of Deribit, a major offshore crypto derivatives exchange. While Deribit will continue operating independently, the deal positions Coinbase to compete globally in a sector dominated by platforms like Binance and Bybit.
By confining operations to CFTC-regulated frameworks, Coinbase differentiates itself from competitors that serve U.S. customers through offshore entities. This approach may appeal to institutional investors wary of regulatory uncertainties. However, it also imposes limits—such as mandatory identity checks and restricted leverage—that offshore platforms avoid.
The 24/7 model mirrors crypto’s inherent always-on nature, addressing a gap in U.S. markets where traditional exchanges adhere to weekday schedules. ETHNews analysts suggest this could reduce weekend price volatility by providing liquidity during historically illiquid periods.
Coinbase’s derivatives push faces hurdles. Rivals like CME Group already offer Bitcoin and Ethereum futures, though only during business hours. Meanwhile, offshore platforms provide perpetual contracts with higher leverage, attracting risk-tolerant traders.
The Deribit acquisition complicates this balance. While expanding Coinbase’s global reach, it places the firm in competition with its own subsidiary—a challenge Ilyevsky acknowledged, emphasizing that Deribit will maintain separate operations.
