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CFTC Reviews Coinbase’s Cash-Settled Perpetual Futures Proposal

By Drooid · Sep 20, 2026, 2:30 PM UTC · How we work

Summary

Coinbase Files Futures

Kalshi filed a rule change to offer perpetual futures on individual U.S. stocks.
Coinbase submitted a CFTC filing to list cash-settled perpetual futures, starting with Apple.
Both proposals label the contracts security futures products cleared through registered clearinghouses.
The CFTC review runs to Nov. 2 with a possible 45-day extension.
Coinbase shares rose 11.7% to $194.25 after the filing, Bitcoin climbing to $81,000.

Summary

Coinbase Cuts Fees

Goldman Sachs raised its Coinbase price target to $219 while Morgan Stanley set a $250 target.
Coinbase cut Advanced fees, added VIP tiers, and offers Coinbase One members 3.5% APY on USDC.
Better Mortgage partnership gives Coinbase One users a 1% HELOC rebate, capped at $10,000 per loan.
Trailing twelve-month revenue reached $7.18 billion while profit margins stayed around –15% and cash-flow multiple near 55.

History

Historical Context

In December 2017, the CME Group launched the first regulated Bitcoin futures, prompting the CFTC to approve cryptocurrency derivatives trading in the United States. CME reported $1.5 billion in Bitcoin futures volume during its inaugural quarter, a 300% surge over traditional equity futures globally market. Today, Kalshi and Coinbase seek CFTC approval to list cash-settled perpetual futures on stocks like Apple, echoing the 2017 crypto-futures breakthrough. If cleared, these products could expand derivatives trading volume by billions, pressure traditional brokers, and cement the United States as a futures innovation hub.

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Coinbase Files Futures

Kalshi filed a rule change to offer perpetual futures on individual U.S. stocks.
Coinbase submitted a CFTC filing to list cash-settled perpetual futures, starting with Apple.
Both proposals label the contracts security futures products cleared through registered clearinghouses.
The CFTC review runs to Nov. 2 with a possible 45-day extension.
Coinbase shares rose 11.7% to $194.25 after the filing, Bitcoin climbing to $81,000.

1 / 3