The largest American cryptocurrency exchange, Coinbase, has launched trading of perpetual futures for users in the United States. The platform offers contracts on Bitcoin and Ethereum.
The product is available through the Coinbase Financial Markets division and is regulated by the Commodity Futures Trading Commission (CFTC).
Coinbase noted that American traders have been unable to access perpetual futures for years due to a complex regulatory framework.
Traders have access to leverage up to 10x. The contract expiration period is five years, unlike traditional monthly or quarterly futures.
According to exchange representatives, this allows for more flexible and long-term strategies. Trading fees start at 0.02% per contract with a minimum rate of $0.15.
The launch coincided with the adoption of significant legislation in the U.S.. Among them are the GENIUS Act, which sets rules for stablecoins, and the CLARITY Act, which delineates the powers of the SEC and CFTC in regulating crypto assets. The former has already been signed by President Donald Trump.
On July 18, Coinbase shares reached a market capitalization of $100 billion, hitting a record high above $440.
On the day of the perpetual futures trading launch, COIN fell by 1.47% and closed at $419.78.
Earlier, Coinbase rebranded its eponymous wallet to Base App. The application integrates social networking, mini-apps, chat, payments, and trading.