Coinbase has launched perpetual futures trading for eligible users in the United States, marking a major step in the platform's regulated offerings. Starting 21 July, traders can access nano Bitcoin (BTC-PERP) and nano Ether (ETH-PERP) perpetual futures via their Coinbase Financial Markets accounts.

The offering follows Coinbase's approval to operate as a futures commission merchant under the Commodity Futures Trading Commission. Perpetual futures, accounting for nearly 90% of crypto derivatives volume, were previously inaccessible to US users due to regulatory constraints.

These contracts differ from traditional futures by offering five-year expiration terms and no monthly rollovers. Users can trade with up to 10x leverage and enjoy low fees from 0.02%.

While this boosts capital efficiency, it also increases potential risk, especially during volatile market conditions.