Coinbase to launch 24/7 Bitcoin and Ethereum futures for US traders 'in the coming weeks'
Quick Take
- Coinbase Derivatives will soon launch the first 24/7 futures contracts for Bitcoin and Ethereum open to U.S.-based traders, eliminating traditional markets’ weekend downtime.
- Coinbase is also developing a “first of its kind perpetual-style futures contract,” the company announced.
Coinbase will launch support "in the coming weeks" for 24/7 trading of Bitcoin and Ethereum futures through its CFTC-regulated Coinbase Derivatives exchange, the company announced Monday.
"Today, US futures markets operate within fixed trading hours–out of sync with the 24/7 nature of crypto," the company said in a statement. "This forces traders to sit on the sidelines during key market moves, limiting their ability to react in real time."
The offering will close the gap between Coinbase and offshore exchanges, which have long offered 24/7 futures trading, eliminating the gaps caused by traditional market hours; CME's crypto futures, for example, have a one-hour daily break and do not trade from Friday at 4:00 p.m. CT until Sunday at 5:00 p.m. CT. The offering is the first for a U.S.-regulated exchange.
Coinbase is also developing "a first of its kind perpetual-style futures contract with long dated expirations," the company announced, in another move to close the gap between Coinbase and offshore exchanges not registered with U.S. regulators.
"We have been actively working with the CFTC, partners, and market participants to finalize the design and to ensure this product meets regulatory requirements as well as client needs," the company said.
The proportion of futures trade volume on decentralized exchanges compared to centralized exchanges has only grown over the past six months, according to The Block's data, with leading decentralized perpetual futures exchange Hyperliquid seeing record-high volume in January.
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