Coinbase has officially launched 24/7 trading for Bitcoin and Ethereum futures. With this, the exchange is now the first CFTC-regulated derivatives exchange in the U.S. to offer continuous access to crypto futures contracts.
According to the announcement made on Friday, Coinbase’s new offering allows traders to buy and sell futures contracts for Bitcoin and Ethereum at any time. This move suggests that the exchange is breaking away from traditional market hours that have limited trading for crypto derivatives.
The San Francisco-based exchange first teased the initiative in March, with the goal of closing the gap between the U.S. trading schedule and the global crypto market. Currently, over 75% of global crypto trading volume occurs outside of U.S. market hours.
Coinbase’s new offering includes both nano and large-sized contracts, which gives investors flexibility in how they trade. They can execute orders, manage risk, and hedge positions at all times, mirroring the always-active nature of the crypto world.
Moreover, all trades are cleared through Nodal Clear, a CFTC-regulated clearinghouse designed for 24/7 operations. Liquidity for the new market is supported by top firms like Virtu Financial, ensuring the market remains efficient and active throughout the day and night.
Paul Cusenza, Chairman and CEO of Nodal Clear, explained: “Extending futures trading to a 24/7 cycle is a fundamental evolution in market structure and one that requires robust risk management around the clock.” Cusenza also said, “Nodal is proud to provide the clearing infrastructure that makes the innovation possible”.
Trading access is available through Futures Commission Merchants (FCMs) including ABN AMRO, Wedbush Securities, and Coinbase Financial Markets. The move to 24/7 trading was praised by Andy Sears, CEO of Coinbase Financial Markets, who called it “a game-changer for the industry.”
Meanwhile, Coinbase recently bought Deribit, a Bitcoin and Ether options trading platform for $2.9 billion. This acquisition is expected to strengthen the exchange’s position in the crypto derivatives space. The exchange is also working to introduce perpetual futures within the U.S. market under a regulated framework.
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