The U.S.-listed cryptocurrency exchange Coinbase released an announcement, declaring the launch of 24/7 trading for Bitcoin and Ethereum futures starting May 9, 2025. Coinbase emphasized that this is the first time such a feature has been implemented on an exchange regulated by the U.S. Commodity Futures Trading Commission (CFTC), marking a significant advancement in the U.S. regulated derivatives market.
Important Transformation in the U.S. Derivatives Market
According to the announcement, Coinbase Derivatives (CDE) becomes the first derivatives exchange to offer 24/7 leveraged futures contracts while being CFTC-regulated. This allows U.S. retail and institutional investors to trade Bitcoin and Ethereum futures around the clock, including weekends, eliminating traditional market trading time restrictions and enabling traders to manage risks and seize market opportunities in real-time.
Coinbase noted that CDE's infrastructure is specifically designed for cryptocurrency market continuity, ensuring stability and reliability of 24/7 operations. Additionally, CDE is actively preparing to launch perpetual futures to further provide cryptocurrency derivatives for U.S. retail traders.
Notably, Coinbase also highlighted its collaboration with partners, including clearing house Nodal Clear, market maker Virtu Financial, and futures commission merchants like ABN AMRO, Wedbush Securities, and Coinbase Financial Markets. All trades are cleared through CFTC-regulated clearing houses to ensure high transparency and compliance, with market makers like Virtu Financial providing stable liquidity.
Commenting on this, Andy Sears, Executive of Coinbase Financial Markets, stated: "We are pleased to provide 24/7 futures trading access, allowing customers to trade anytime on the Coinbase Advanced platform." Boudewijn Duinstra, CEO of ABN AMRO Clearing USA, also noted: "24/7 futures trading marks an important transformation in the U.S. derivatives market." Additionally, Bob Fitzsimmons, Executive Vice President of Multi-Asset Clearing and Principal Services at Wedbush Securities, remarked:
"The introduction of 24/7 trading in the U.S. futures market is a milestone in redefining modern market access, flexibility, and responsiveness."
Progress and Future Outlook of U.S. Cryptocurrency Regulation
Coinbase's launch of 24/7 futures trading is not only a breakthrough in technology and market structure but also reflects significant progress in the U.S. cryptocurrency regulatory environment. The CFTC, as the primary regulatory body for U.S. derivatives markets, shows flexibility in balancing market innovation and risk control through its support of such innovations. The implementation of 24/7 trading means that the U.S. regulated market is gradually aligning with the round-the-clock nature of the global cryptocurrency market, which is crucial for attracting more institutional investors to cryptocurrency derivatives.
Looking ahead, with the upcoming launch of products like perpetual futures and potential emulation by more regulated exchanges, the U.S. cryptocurrency derivatives market is expected to further expand. Simultaneously, the continuous improvement of the CFTC regulatory framework will provide investors with a safer trading environment and promote the acceptance of cryptocurrencies as a mainstream asset class.
