Coinbase Derivatives will launch the first perpetual style equity index futures listed on a US regulated exchange on June 8, expanding its derivatives business beyond crypto into thematic equity markets.
The initial launch will include four contracts tracking AI, China, defense, and top Nasdaq companies. The products are designed to give traders capital efficient exposure to major market themes through a CFTC regulated futures framework.
The move comes as demand for crypto style market structures expands into traditional assets. The SEC is preparing an innovation exemption that could allow trading of tokenized versions of stocks, Bloomberg reported earlier this week. The framework could let tokenized stocks trade on crypto platforms, potentially accelerating the shift of equity exposure onto blockchain based rails.
Interest in non-crypto perpetual markets has also grown on Hyperliquid, where HIP-3 enabled permissionless creation of perpetual futures markets on Hyperliquid in October 2025. The framework has allowed builders to launch markets tied to traditional assets, including equities, forex, and commodities, without requiring centralized approval.
Coinbase’s products bring a similar market structure into a regulated US futures exchange. The contracts will use a funding mechanism designed to keep futures prices closely aligned with their underlying indexes, while offering centralized liquidity, transparent price discovery, and around the clock access.
