Coinbase Launches 24/7 Bitcoin, Ethereum Futures in U.S.

Coinbase Derivatives is set to introduce the first CFTC-regulated 24/7 Bitcoin and Ethereum futures trading in the United States. This launch represents a significant shift in the U.S. crypto derivatives market, aligning it with global markets that operate continuously. Traders will no longer be constrained by traditional market hours, allowing for real-time responses to price movements. This initiative also includes plans for a perpetual-style futures contract, a product widely available on offshore platforms but previously inaccessible in the U.S. under regulatory oversight.

Unlike traditional futures, perpetuals have no fixed expiration, allowing traders to hold positions indefinitely. This move by Coinbase comes as traditional financial markets explore continuous trading. For instance, Nasdaq has recently announced plans to introduce 24-hour stock trading by 2026, citing the growing demand for always-on markets. This shift is driven by the recognition that blockchain technology enables seamless, round-the-clock trading, unlike legacy financial infrastructure that relies on set trading windows.

Greg Tusar, Coinbase’s VP of Institutional Product, believes that the move is in response to strong demand from crypto-native traders. “Crypto markets never sleep, and traders need the ability to manage risk and seize opportunities in real time. By introducing 24/7 futures and developing a perpetual-style contract, we’re bringing U.S.-regulated markets in line with the global crypto economy.” The push towards 24/7 trading has already demonstrated benefits in some global markets. For instance, the Taiwan Stock Exchange reportedly saw trading volumes climb after introducing more continuous trading sessions.

The crypto derivatives market, which represents a significant portion of total crypto trading volume, is projected to grow substantially in the coming years. Historically, much of this trading activity has occurred offshore, on platforms that have offered perpetual futures and 24/7 trading beyond the reach of U.S. regulators. With Coinbase now launching continuous futures in a CFTC-regulated environment, U.S.-based traders have a compliant alternative to offshore exchanges. Recent events have highlighted the limitations of fixed hours. For example, when a significant announcement was made on a Sunday, crypto traders could react instantly, while traditional market participants had to wait until Monday. This delay underlined the inefficiencies of legacy market structures in a digital-first era.