Coinbase Introduces 24/7 Crypto Futures Trading for U.S. Users
Coinbase has rolled out 24/7 Bitcoin and Ethereum futures trading for U.S. customers.This service is provided by Coinbase Derivatives, a CFTC-regulated entity. Starting May 9, traders can access crypto futures anytime, including weekends. This feature allows for constant execution and risk management.
This move comes just after Coinbase announced its $2.9 billion acquisition of Deribit, a crypto derivatives exchange. This acquisition underscores Coinbase’s growing interest in the global derivatives market.
The new round-the-clock futures product is available to both retail and institutional users. It brings regulated crypto markets closer to the always-on nature of digital assets. Coinbase derivatives’ infrastructure supports uninterrupted trading and clearing. All transactions are processed through the CFTC-approved clearinghouse, Nodal Clear.
Liquidity is supported by market maker Virtu Financial.Firms like ABN AMRO,Wedbush Securities,and Coinbase Financial Markets are also involved. Coinbase plans to introduce perpetual-style futures for U.S. users soon.
Despite these developments, Coinbase reported a first-quarter revenue of $2.03 billion, missing Wall Street’s $2.12 billion estimate. Consumer trading volume dropped by 17% from the previous quarter. However, stablecoin revenue increased, but adjusted earnings fell to $1.94 per share.