Key Takeaways
- Coinbase launched 24/7 Bitcoin and Ethereum futures trading, becoming the first CFTC-regulated exchange to provide this service.
- The expansion includes partnerships with Nodal Clear and Virtu Financial to support continuous leveraged futures trading.
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Coinbase Derivatives has officially activated 24/7 trading for Bitcoin and Ethereum futures, becoming the first CFTC-regulated derivatives exchange to offer around-the-clock access to crypto futures contracts in the US, the exchange said in a Friday announcement.
Coinbase first revealed the initiative in March, aiming to bridge the gap between traditional US trading hours and the global crypto market, which makes up over 75% of worldwide trading volume. The exchange will provide both nano and large-sized contracts.
The San Francisco-based crypto exchange’s new offering enables US investors to execute trades, hedge positions, and manage exposure continuously. The service is designed to reflect the always-on nature of the crypto markets.
The exchange’s infrastructure has been engineered to support the new market structure. Coinbase Derivatives clears all trades through Nodal Clear, a CFTC-regulated clearinghouse whose systems are built for 24/7 operational continuity. Liquidity is provided by leading firms, including Virtu Financial.
“Extending futures trading to a 24/7 cycle is a fundamental evolution in market structure and one that requires robust risk management around the clock,” said Paul Cusenza, Chairman and CEO of Nodal Clear.
Trading access is available through futures commission merchants (FCMs) including ABN AMRO, Wedbush Securities, and Coinbase Financial Markets, as per the announcement.
“The arrival of 24/7 CFTC-regulated markets is a game-changer for the industry,” said Andy Sears, CEO of Coinbase Financial Markets.
Coinbase is also working to bring perpetual futures, the most widely used crypto derivatives product, to US markets within a regulated framework. That effort would mark another first in the CFTC-supervised environment, and further expand Coinbase’s footprint in derivatives.
The launch arrives just one day after Coinbase announced a $2.9 billion acquisition of Deribit, a prominent Bitcoin and Ether options trading platform. The deal, which is Coinbase’s largest acquisition to date, is expected to help enhance the firm’s presence in the crypto derivatives market.
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