Coinbase is set to make a splash in the U.S. crypto market with the launch of perpetual-style futures contracts on July 21, 2025. Aiming to carve a niche in a space traditionally dominated by offshore entities, the San Francisco-based exchange will offer these contracts for bitcoin (BTC) and ether (ETH) on its Coinbase Derivatives Exchange, a platform regulated by the Commodity Futures Trading Commission (CFTC).
A New Era for U.S. Crypto Derivatives
The introduction of perpetual-style futures by Coinbase marks a significant milestone for the U.S. crypto derivatives market. Unlike their offshore counterparts, which have long been the go-to for traders globally, these contracts are structured as long-dated futures with five-year expirations. They feature an hourly funding rate mechanism, settled bi-daily, to closely mimic the dynamics of perpetual swaps. This innovative structure aims to offer U.S. traders a regulated alternative to the unapproved offshore perpetuals that have raised eyebrows among regulators.
Coinbase’s move is poised to attract attention from both institutional investors and retail traders looking for a regulated environment to engage in perpetual trading. “This is a big leap forward for the market,” noted crypto analyst Sarah Thompson. “It not only provides a safer, regulated option for traders but also legitimizes the use of perpetuals in the U.S., which have been largely out of reach until now.”
Strategic Accumulation: Coinbase’s Bitcoin Holdings
In a separate, yet equally significant move, Coinbase CEO Brian Armstrong revealed that the company is steadily increasing its bitcoin holdings. “We’re buying more bitcoin every week. Long Bitcoin,” Armstrong stated in a post on X, formerly Twitter, responding to a thread by David Bailey, CEO of Nakamoto Holdings. This ongoing investment strategy underscores Coinbase’s confidence in bitcoin’s long-term potential. This follows a pattern of institutional adoption, which we detailed in our analysis of corporate treasury investments.
The company’s quarterly earnings call earlier this year revealed a $150 million crypto purchase, predominantly in bitcoin. With 9,257 BTC currently on its balance sheet, Coinbase is among the top 10 publicly-listed companies hoarding the digital gold, a testament to its bullish outlook on the cryptocurrency.
Implications for the Crypto Market
Coinbase’s dual announcements come at a time when the crypto market is navigating a complex landscape of regulatory scrutiny and evolving investor sentiment. The launch of regulated perpetuals could provide a much-needed boost to market liquidity and offer a safer haven for U.S.-based traders wary of unregulated offshore platforms. Meanwhile, Coinbase’s bitcoin acquisition strategy highlights a growing trend among corporations to diversify their treasury holdings with crypto assets.
However, these developments raise questions about the broader impact on the market. Will other U.S. exchanges follow suit and introduce similar products? And how might Coinbase’s increasing bitcoin investments influence its financial standing and market perceptions? This is particularly relevant as Bitcoin rebounds to $105K as Coinbase premium hits second 2025 high, reflecting strong market dynamics.
As the July 21 launch date approaches, all eyes are on Coinbase to see how this bold venture will unfold in the ever-evolving crypto ecosystem. The market’s response to these perpetual-style futures and Coinbase’s ongoing bitcoin accumulation will likely shape the discourse around crypto derivatives and corporate investment strategies in the months to come.
Source
This article is based on: Coinbase Sets U.S. Perpetual-Style Futures Launch as CEO Says Firm Is Buying Bitcoin Weekly
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
