On June 12, Coinbase, one of the biggest names in the U.S. crypto game, revealed that it’s getting ready to launch perpetual futures trading for U.S. users, this time fully under the watch of the Commodity Futures Trading Commission (CFTC). The news dropped during the State of Crypto Summit in

• Coinbase is launching CFTC-approved perpetual futures in the U.S., giving traders 24/7 access to leveraged crypto, with full regulatory backing.
•  It’s the first U.S. exchange to legally offer perps, finally bringing advanced trading tools stateside.

On June 12, Coinbase, one of the biggest names in the U.S. crypto game, revealed that it’s getting ready to launch perpetual futures trading for U.S. users, this time fully under the watch of the Commodity Futures Trading Commission (CFTC). The news dropped during the State of Crypto Summit in New York, where Max Branzburg, Coinbase’s VP of Product, made the announcement.

Perpetual futures are kind of like traditional futures contracts, but with one major difference, they don’t expire. That means traders can hold their positions for as long as they want, whether they’re betting prices will go up or down. They’re built for leverage and run non-stop, 24/7. For experienced traders and big players, perps are a go-to way to manage risk or chase bigger gains, without actually owning the crypto itself.

Outside the U.S., perpetuals are a massive part of the game; on major global platforms, they make up around 75% of all crypto derivatives trading. Just to give you an idea, Coinbase’s international exchange alone pushed through about $5 billion worth of perp volume in May 2025. That’s not a small change—it shows just how big this market really is.

This is a big shift on the compliance front. Perps have mostly lived on offshore or loosely regulated platforms, but now they’re getting pulled into the U.S. system with real oversight. The CFTC handles crypto derivatives the same way it does commodity futures, which means things like trading rules, margin checks, clearing, and anti-manipulation policies are actually enforced.

Regulatory backing and 24/7 innovation

Since May 9, 2025, Coinbase has been the first CFTC-regulated exchange letting users trade Bitcoin and Ethereum futures around the clock. The launch of perpetual futures just takes that to the next level, combining non-stop market access with legit regulatory structure, something U.S. traders haven’t really had before.

Branzburg made it clear that U.S. traders are about to get access to what he called “the most powerful crypto trading product on the market on the safest exchange,” showing just how serious Coinbase is about bringing high-end derivatives to U.S. users. The rollout is backed by solid infrastructure, too, clearing is handled by Nodal Clear, and market making support comes from Virtu Financial, both key players helping keep the whole thing running smoothly and secure.

Implications for U.S. crypto markets

With CFTC-compliant perpetual futures finally hitting a U.S. exchange, Coinbase is closing a gap that’s been open for years. Up until now, most American platforms stayed away from perps, mostly because the regulatory picture was too murky. This launch feels like a real shift—it could be the moment that opens the door for wider adoption, pulling in both serious institutions and everyday traders who’ve been waiting for advanced tools they can actually use under U.S. rules.

Coinbase says its U.S. rollout of perpetual futures is “coming soon,” though they haven’t dropped a firm date just yet. Still, in their spring 2025 futures update, they mentioned that BTC and ETH perpetuals are already in the works. And based on how quickly they moved with the 24/7 futures launch, there’s a good chance we’ll see it go live sometime in the next quarter.

By bringing CFTC-approved perpetual futures to the table, Coinbase is building a real connection between the fast-moving world of global crypto and the stricter, rules-heavy U.S. market. This launch isn’t just another product drop—it has the potential to shake up the playing field and change how derivative trading looks in the U.S. from here on out.

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