Key Takeaways:

• Coinbase expands Bitcoin and Ethereum futures trading to US residents 24/7, the first of its kind in the US.
• The exchange is also working on perpetual futures, a popular product around the world but not available to U.S. traders in a regulated environment before now.
• The move, proposed in part to bring U.S. crypto derivatives trading in line with global norms, would provide U.S. traders with more flexibility and access to opportunities.

All these developments position Coinbase to shake up the US cryptocurrency market with the launch of 24/7 Bitcoin (BTC) and Ethereum (ETH) futures trading in a move aimed at synchronizing US trading with global practices. Announced on March 10, 2025, this bold expansion builds on the exchange’s existing derivatives offerings to US residents and introduces perpetual futures trading with long-dated expirations, a product that has never been available in a regulated environment for US traders.

Breaking Down the Barriers: Accessing 24/7

US crypto traders have been at a disadvantage for far too long. Most American futures markets run on fixed schedules, making them distant cousins of the always-on cryptocurrency market. This inability to act in real time forces traders to the sidelines during critical market moves. Coinbase’s 24/7 futures will give U.S. traders:

• 24/7: No need to wait for the markets to open; markets that closely reflect the nature of crypto spot markets.
• Access different contract sizes: Offering both nano and large-sized contracts to cater to a wide range of trading strategies, from retail to institutional.
• Institutional-grade infrastructure: Nodal Clear partnership for CFTC-regulated clearing; seamless access with Coinbase Financial Markets.

Why Individuals Find Perpetual Futures So Attractive

In addition to 24/7 access, Coinbase is also working on bringing perpetual-style futures contracts to the US market, a product that had gained extraordinary popularity in global crypto derivatives trading. Instead of running up to a deadline, as in traditional futures, traders can hold these contracts indefinitely.

The significance of perpetual futures:

• No time issue to trade: A trader can hold positions without the concern of contracts expiration, thus allowing them to execute their long-term strategies and risk management strategies.
• Bridge for US traders: Perpetual futures are not new in the global markets, but US traders were left with less flexible structures due to our lack of permanent futures products.
• Unlocking a competitive edge: Underlying a US regulated perpetual-style contract will help traders implement strategies with critical efficiency while avoiding dependency on offshore alternatives.

Coinbase is working closely with the CFTC, counterparties, and market participants to structure these contracts to meet both regulatory and customer needs.

Rising Competition in the Derivatives Market

Coinbase’s foray into the 24/7 crypto futures market isn’t without its issues. Its only real competition at this stage is from some of the other leading players in this area, including CME Group, which is a derivatives exchange in the US. Crypto derivatives of the CME Group registered an outstanding average daily trading volume of $10 billion in Q4 of 2024. However, their products are available to trade 6 days a week. The exchange is also expected to face competition from rival Robinhood, which in January revealed its intentions to offer BTC and ETH futures.

Coinbase Calls for Clear Crypto Futures Rules as 24/7 Trading Nears Launch

The launch of 24/7 Bitcoin and Ethereum futures by Coinbase is another hat in the ring from the exchange’s side to build a regulated, accessible, innovative Futures market US landscape. It is a long-overdue addressing of the long-standing disconnect between traditional market structures and the 24/7 reality of the cryptocurrency market. Coinbase is laying a foundation for the next generation of global crypto derivatives by enabling US traders to manage risk and access opportunities.

As Greg Tusar, a representative from Coinbase stated, “For too long, the US has been playing catch-up in crypto derivatives. It’s time for a regulated, accessible, and innovative futures market that meets the needs of the cryptoeconomy.”