Coinbase Asks SEC to Approve 24/7 Equity Perpetuals
The U.S. crypto giant wants round-the-clock leveraged equity contracts — a first for regulated American markets.
Coinbase filed with the U.S. Securities and Exchange Commission as of September 2026 to list equity perpetual contracts trading around the clock, seven days a week, according to The Block.
Why It Matters
Equity perpetuals — derivatives with no expiry date tied to stock prices — are already popular on offshore crypto exchanges but have never received SEC authorization for a U.S.-regulated venue. Approval would let retail and institutional traders hold leveraged positions on equities outside standard market hours, a structural shift with serious implications for both traditional brokerages and crypto platforms competing for trading volume. For iGaming operators and prediction-market platforms that use perpetual mechanics as a product template, a regulated U.S. precedent could also soften regulatory resistance to similar always-on derivative instruments. Gambling involves risk; leveraged perpetuals amplify that risk substantially.
Context
Perpetual futures gained traction first in crypto markets — Binance and Bybit process hundreds of billions in monthly perpetual volume, per their published data — before traditional-asset versions began appearing on platforms like Kalshi and derivatives-adjacent exchanges. Coinbase, as of September 2026 the largest U.S.-headquartered crypto exchange by regulated footprint, is positioned to act as the first fully compliant American venue for equity perpetuals if the SEC grants the request.
What's Next
The SEC must formally acknowledge the filing and open a public comment period before any ruling. A decision timeline has not been disclosed, but past novel-product reviews at the Commission have run six to eighteen months.
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