Coinbase is officially launching perpetual futures trading in the United States, per an announcement from the crypto exchange. “Now you can trade perpetual-style futures on Coinbase Financial Markets, a secure and CFTC-regulated platform,” Coinbase Financial wrote in a post to X on Monday.

“We are thrilled to announce that U.S. customers, starting July 21, 2025, can trade CFTC-regulated perpetual futures via Coinbase Financial Markets (CFM), bringing one of the world’s most traded derivatives to a secure and trusted crypto platform.” Now, Coinbase users can trade nano Bitcoin Perpetual Futures (BTC-PERP) and nano Ether Perpetual Futures (ETH-PERP), all with CFTC approval. The company received approval to launch the services earlier this year. The launch also comes as several financial institutions in the US are launching their own crypto services, including Charles Schwab and JPMorgan.

How Coinbase’s Perpetual Futures Trading Works

The futures are designed as long-dated futures contracts with 5-year expirations and 24/7 trading hours. They incorporate a funding rate mechanism to keep futures prices closely aligned with spot markets. Unlike traditional US futures, these contracts are meant to stay as close to spot prices as possible and are far more suitable for long-term positions. Additionally, the Coinbase perpetual-style crypto futures contracts will provide regulated exposure to the crypto market while offering flexibility in position sizing and capital efficiency.

Also Read: Charles Schwab to Launch Bitcoin and Ethereum Trading Services

Traders will need to have an existing account on the exchange before opening a Coinbase Financial Markets futures account. Here’s how to get started, according to the Coinbase team.

• Navigate to Coinbase and click “Get Started” to sign up for a Coinbase account.
• If you already have a Coinbase account, just complete a short application to trade derivatives with Coinbase Financial Markets.
• Once approved, you can begin trading.

CEO Brian Armstrong also announced the futures as “starting with BTC and ETH,” potentially hinting at products suitable for other coins like SOL and XRP in the future. Coinbase became the first CFTC-regulated derivatives platform in the US to offer round-the-clock access to XRP and SOL futures back in May.