Coinbase Files SEC Notices for Potential 24/7 Leveraged Stock Trading in US
Coinbase has taken a formal regulatory step toward offering leveraged single-stock perpetual contracts to U.S. investors, filing notice registrations with the Securities and Exchange Commission for its derivatives and brokerage entities.
The filings, dated September 1, 2026, are aimed at establishing a regulatory pathway for equity perpetuals that could eventually allow American customers to trade leveraged exposure to individual stocks around the clock.
The move does not represent a completed launch. Coinbase still needs additional regulatory approval before the proposed products can become available to U.S. customers.
Coinbase’s SEC Filings Set Out Proposed Structure
Coinbase Derivatives LLC submitted a Form 1-N, while Coinbase Financial Markets Inc. filed a Form BD-N as a security futures broker-dealer under existing securities laws.
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| Source: Xpost |
The filings represent the company's initial regulatory step for bringing its stock perpetual products into the U.S. market.
Under the proposed structure, the equity perpetual contracts would be treated as security futures, allowing Coinbase to pursue an existing regulatory framework rather than seeking the creation of an entirely new product category.
However, the classification does not guarantee approval. Further regulatory action, including product approval from the Commodity Futures Trading Commission, remains necessary.
The current filing details are:
| Detail | Information |
|---|---|
| Filing date | September 1, 2026 |
| Exchange entity | Coinbase Derivatives LLC |
| Exchange registration | Form 1-N |
| Broker entity | Coinbase Financial Markets Inc. |
| Broker registration | Form BD-N |
| Proposed classification | Security futures |
| Next regulatory step | CFTC product approval |
| International leverage | Up to 20x |
SEC and CFTC Coordination Remains Critical
Coinbase Chief Policy Officer Faryar Shirzad said the company intends to work with both the SEC and CFTC as it seeks to bring the products onto the U.S. market.
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| Source: Xpost |
The dual-regulator process reflects the proposed products' position at the intersection of securities and derivatives regulation. Coinbase's filings therefore open a regulatory process rather than providing immediate authorization for U.S. trading.
The next significant hurdle is CFTC approval of the products themselves.
Coinbase Already Offers Stock Perpetuals Internationally
Coinbase is not building the product from scratch. The exchange already offers stock perpetual contracts to customers outside the United States.
Those products provide leveraged exposure to individual stocks, with leverage of up to 20 times on names including Apple, Nvidia and Tesla.
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| Source: Coin Bureau |
The international offering provides an existing model for the U.S. proposal, although regulatory approval in the United States remains a separate matter.
Coinbase's latest filings therefore represent an effort to bring a product already offered internationally into a regulated American market structure.
Security Futures Classification Could Shape Approval
A central part of Coinbase's approach is its proposal to classify equity perpetual contracts as security futures under existing law.
That strategy uses an established legal category rather than requiring regulators to establish an entirely new classification. The approach could potentially streamline the regulatory process, although the source material does not indicate that approval is assured or provide a specific timetable.
Ultimately, the SEC and CFTC will determine how the filings and proposed products are treated within the existing framework.
What Coinbase’s Move Could Mean for U.S. Markets
If regulators approve the proposal, Coinbase could eventually offer U.S. customers regulated, leveraged exposure to individual stocks on a round-the-clock basis.
Such a development would extend the role of a crypto-focused exchange further into traditional financial markets and add another example of digital-asset companies pursuing conventional financial products.
For now, however, the proposal remains in the regulatory process. The SEC notices establish an important first step, while CFTC product approval and the agencies' subsequent responses will determine whether the proposed stock perpetuals ultimately reach American traders.
Writer: Marcus RenfieldCrypto Market Analyst & Onchain WriterMarcus Renfield covers cryptocurrency markets with a focus on onchain data, Bitcoin price action, and emerging market narratives. His writing examines how capital flows, network activity, and broader market structure influence short- and medium-term trends.He aims to provide clear, data-informed analysis for readers seeking a deeper understanding of crypto market dynamics.