Coinbase Derivatives, LLC’s proposed cash-settled futures tied to individual equities and ETF shares, including perpetual single-stock futures, remain subject to regulatory approval before they can launch. The company filed the proposed rules with the U.S. Securities and Exchange Commission on Sept. 18, 2026, and submitted the proposal concurrently to the Commodity Futures Trading Commission.
Coinbase Derivatives files proposed individual-stock perpetual futures rules
The SEC filing proposes rule changes for cash-settled futures tied to individual equities and ETF shares, including perpetual contracts with no fixed expiration date. According to the filing, Coinbase Derivatives submitted the proposal concurrently to the Commodity Futures Trading Commission.
The filing says the contracts were not available for trading and that the CFTC had not approved the proposal as of the filing date.
The proposed contracts offer exposure without owning shares
Cash settlement is the central feature: the contracts would not deliver the underlying stock or ETF. A holder would receive neither shares nor ownership rights in the referenced asset.
Participants would instead hold a futures position linked to the underlying equity or fund, unlike someone buying stock or ETF shares in the cash market. The proposed contracts are perpetual, so they would have no preset expiration as conventional dated futures do.
Coinbase is proposing the structure to give U.S. traders leveraged exposure to individual stocks through perpetual contracts, Cointelegraph reported.
Regulatory approval remains the condition for a U.S. launch
The proposal remains at the filing stage. CFTC approval is the stated condition before Coinbase Derivatives can introduce the cash-settled perpetual products to the U.S. market.
For now, the SEC document provides the proposed contract framework but does not establish a launch date or indicate that any individual-stock or ETF perpetual future has been approved for trading.
