Coinbase Files With SEC to List Equity Perpetual Futures on US Stocks

Coinbase has filed notice-registration forms with the U.S. Securities and Exchange Commission to list equity perpetual futures tied to U.S. stocks such as Apple, Microsoft, Nvidia, and Amazon, according to The Block, which reported the filing during the week of September 3, 2026. The plan still needs sign-off from the Commodity Futures Trading Commission before any U.S. trading can begin.

What happened?

The Block reported that Coinbase filed a notice-registration form with the SEC to offer “equity perpetuals” — perpetual futures referencing individual U.S. stocks — with the company confirming the move on September 5, 2026. Coinbase Chief Policy Officer Faryar Shirzad said, “Equity perps have proven demand internationally, and we’re excited at the prospect of a regulated pathway for U.S. investors,” according to The Block.

Coverage from Coinpaprika described Coinbase’s bid to bring around-the-clock stock perpetuals onshore for U.S. traders. Perpetual futures are derivatives with no fixed expiry that track an underlying reference price; equity perps would extend that structure to stocks. The Block noted the products named in Coinbase’s plan include megacap names such as Apple, Microsoft, Nvidia, and Amazon.

The reporting placed the filing in a broader sequence. Coinbase launched perpetual futures for non-U.S. traders earlier in 2026, and the CFTC opened the door to certain U.S. crypto perpetual futures during 2026. The Block also reported that Coinbase’s push toward SEC-regulated products has been enabled by licenses including a broker-dealer registration, an alternative trading system, and a registered investment adviser.

Why does it matter?

If approved, equity perpetuals would let U.S. traders take leveraged, continuously trading positions on individual stocks through a crypto-native venue — a category that has been available on some offshore platforms but not, in this form, onshore. That would blur the line between crypto derivatives markets and traditional equities trading, and place Coinbase in more direct competition with established derivatives exchanges.

Perpetual futures differ from traditional futures in that they carry no expiration date; positions are kept aligned to the underlying reference price through a periodic “funding” mechanism between long and short traders. That structure has made “perps” one of the most heavily traded instruments on offshore crypto venues. Shirzad’s reference to “proven demand internationally,” per The Block, points to that offshore volume as the rationale for bringing a regulated version to U.S. investors. Coinpaprika framed the pitch as around-the-clock access, contrasting with the fixed hours of conventional stock markets.

The regulatory path is notable in itself. Coinbase is seeking to operate under the oversight of the SEC and, for the derivatives, the CFTC, rather than outside U.S. rules. The Block reported that CFTC approval is still required before trading can start, so the SEC filing is one step in a multi-agency process, not a green light. Follow developments through our exchanges section.

What to watch next?

The key marker is whether the CFTC signs off, and on what conditions — U.S.-regulated crypto perpetuals have carried leverage limits, volatility controls, and know-your-customer requirements, and any equity-perp product would likely face similar guardrails. Watch also for how the SEC treats the notice-registration filing and whether traditional exchanges or investor-protection groups weigh in.

Because specifics are still emerging, some details differ across reports — for example, the exact form designations and filing dates described by different outlets — so those particulars may be clarified as the process advances. What is consistent across sources is the core event: Coinbase is seeking a regulated U.S. pathway to list equity perpetual futures, and it does not yet have the full set of approvals needed to launch.

The move also fits a pattern of Coinbase building out regulated infrastructure. The Block reported that the company’s path toward SEC-regulated products rests on licenses including a broker-dealer registration, an alternative trading system, and a registered investment adviser, while its derivatives ambitions run through the CFTC. Coinbase’s own blog has framed this as a path to listing SEC-regulated crypto securities, signaling that equity perpetuals are one piece of a broader push into regulated products rather than a one-off filing.

The filing underscores how far U.S. exchanges are pushing into regulated derivatives as the policy climate shifts. Whether equity perps clear both agencies, and how they are structured for retail access, will determine how consequential this move ultimately is.

Sources: The Block — Coinbase seeks SEC greenlight to list 24/7 equity perpetuals; Coinpaprika — Coinbase Bids to Bring 24/7 Stock Perpetuals Onshore for US Traders; Coinbase — Our path to listing SEC-regulated crypto securities

This is news reporting, not investment advice.