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The bid to bring single-stock perpetual futures to US markets is now before regulators. Coinbase has filed to launch the contracts on a 24/5 schedule, and the determination is pending.
The case for the product turns on access. Perpetual futures carry no fixed expiry date, and Coinbase's proposal would make single-name US equity exposure available to traders around the clock, five days a week.
The counterargument is the regulatory process itself.
A filing is not an approval, and US derivatives frameworks will have to determine whether a perpetual structure on individual stocks works within existing rules or requires something new to be built around it.
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