Coinbase Derivatives is taking a concept that crypto traders have used for years, perpetual futures, and transplanting it into the world of equity indexes. Starting June 8, the exchange will offer perpetual-style equity index futures on a CFTC-regulated platform, marking what it calls the first such product on a US-regulated exchange.
What Coinbase is actually launching
The initial rollout includes four thematic index contracts: AI10, China10, Defense10, and Tech100. Each tracks an underlying index managed by MarketVector, giving traders exposure to specific sectors without needing to buy individual stocks or juggle multiple ETFs.
The contracts are cash-settled, meaning no actual shares change hands at settlement. Instead, gains and losses are paid out in cash. Prices stay tethered to their underlying spot indexes through hourly funding payments, a mechanism that crypto perpetual traders will recognize instantly.
Most of the indexes carry a maximum weight cap of 15% per constituent, which prevents any single stock from dominating the basket.
