Coinbase launches the first 24/7 Bitcoin and Ethereum futures trading platform in the US, marking a market innovation under CFTC regulation.

On May 9, 2025, Coinbase became the first cryptocurrency exchange in the United States to offer 24/7 Bitcoin and Ethereum futures trading regulated by the Commodity Futures Trading Commission (CFTC). This move breaks the traditional financial markets' trading time limitations and marks a significant institutional change in the U.S. crypto derivatives market. Coinbase Derivatives is collaborating with Nodal Clear, Virtu Financial, and others to offer flexible trading options and market access for both retail and institutional investors.

Coinbase Derivatives: The First 24/7 Futures Exchange Platform Regulated by the CFTC

Coinbase Derivatives LLC (CDE) has launched a 24/7 trading service offering leveraged futures contracts for Bitcoin (BTC) and Ethereum (ETH), two major cryptocurrencies. This marks the first time a CFTC-regulated exchange in the U.S. is providing 24/7 crypto futures trading, allowing U.S. investors to trade legally and compliantly during weekends and nights without relying on overseas or unregulated platforms.

According to Coinbase's announcement, the platform's infrastructure is designed for the continuity of the crypto market, ensuring the trading system operates stably without interruption. All trades will be cleared through Nodal Clear, a CFTC-regulated clearinghouse, with trading access provided by futures commission merchants (FCMs) including ABN AMRO, Wedbush Securities, and Coinbase Financial Markets.

Breaking the Constraints of Traditional Market Hours

Previously, regulated derivatives trading in the U.S. mostly adhered to the traditional Monday to Friday trading hours, highlighting a stark contrast with the 24/7 nature of the cryptocurrency market. Coinbase's initiative responds to this structural contradiction.

Andy Sears, CEO of Coinbase Financial Markets, stated, "A 24/7 CFTC-regulated market is a significant breakthrough for the industry. We are excited to offer round-the-clock futures trading access on the Coinbase Advanced platform, allowing customers to respond to market fluctuations in real-time."

Andrew Smith, Senior Vice President of Virtu Financial, also commented, "24/7 trading is a natural evolution for the U.S. regulated crypto futures market. Our collaboration with Coinbase Derivatives aims to create a more efficient and accessible round-the-clock market."

Collaborative Institutions and Market Infrastructure

The implementation of 24/7 trading services is the result of collaboration among multiple institutions. Clearing operations are handled by Nodal Clear, a CFTC-recognized clearinghouse, ensuring transparency and risk management mechanisms in trading. Paul Cusenza, Chairman and CEO of Nodal Clear, stated, "Expanding futures trading to 24/7 is a fundamental evolution of market structure, which requires round-the-clock risk management capabilities."

Additionally, market maker Virtu Financial provides stable liquidity, while FCMs like ABN AMRO and Wedbush Securities are responsible for bringing trading products to retail and institutional clients. This integrated market infrastructure sets a new standard for the U.S. crypto derivatives market.

Future Plans for Perpetual Futures Products

Coinbase also revealed plans to introduce perpetual futures, a product widely popular in the global crypto market due to its lack of expiration date. If achieved under CFTC regulation, this would be another pioneering move for the U.S. market.

According to Coinbase, these future products will be launched within a compliant framework, offering U.S. retail traders a more diverse range of derivative options. This indicates Coinbase's active expansion in the U.S. derivatives market and its attempt to introduce globally mainstream crypto trading models into the regulated U.S. market.

Institutional Changes in the U.S. Derivatives Market

The launch of 24/7 futures trading by Coinbase is not only a technological innovation but also an institutional breakthrough. The CFTC, as the primary regulatory body for the U.S. derivatives market, supports this innovation, showing its flexibility in balancing market innovation with risk control.

Bob Fitzsimmons, Executive Vice President of Wedbush Securities, noted, "The introduction of 24/7 trading in the U.S. futures market is a milestone in redefining modern market access, flexibility, and responsiveness."

This change also brings the U.S. market more in line with the 24/7 nature of the global crypto market, providing a compliant, secure, and flexible trading environment for more institutional and retail investors.

Coinbase launches the first 24/7 Bitcoin and Ethereum futures trading platform in the US, marking a market innovation under CFTC regulation.

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