Coinbase has filed two notice registrations with the U.S. Securities and Exchange Commission in a bid to offer single-stock perpetuals in the U.S., a move that would expand its domestic equity-derivatives lineup from thematic stock indexes to individual stocks.
U.S. users can already trade Coinbase perpetual-style futures tracking artificial intelligence, China, defense and the top 100 tech stocks. The new effort targets the single-stock exposure that Coinbase introduced for eligible customers outside the U.S. in March.
Coinbase Chief Policy Officer Faryar Shirzad called the SEC filings a first step and said product approval from the Commodity Futures Trading Commission comes next. The two-page filing packet identifies the registering entities and forms but does not state which stocks are proposed or which classes of U.S. customers could qualify.
The packet shows a Form 1-N for Coinbase Derivatives LLC and a Form BD-N for Coinbase Financial Markets Inc., both dated Sept. 1. The BD-N cover describes a notice registration as a security-futures-product broker-dealer.
The SEC’s Form 1-N is used for notice registration as a national securities exchange solely for trading security futures products. Coinbase Financial Markets is already registered as a futures commission merchant that facilitates customer trading of listed derivatives on designated contract markets.
