- Coinbase is developing a perpetual-style futures contract.
- Taiwan’s Stock Exchange saw trading volumes double after shifting to a continuous trading model, showing potential benefits for 24/7 markets
Coinbase Derivatives is set to introduce the first CFTC-regulated 24/7 Bitcoin [BTC] and Ethereum [ETH] futures trading in the United States. The launch marks a significant shift in U.S crypto derivatives, aligning with global markets that operate continuously.
Markets never sleep—why should traders?
Traders will no longer be constrained by traditional market hours, allowing for real-time responses to price movements.
The initiative also includes plans for a perpetual-style futures contract, a product widely available on offshore platforms but previously inaccessible in the U.S under regulatory oversight.
Unlike traditional futures, perpetuals have no fixed expiration, allowing traders to hold positions indefinitely.
Beyond 24/7 trading, Coinbase is also developing a perpetual-style futures contract. Unlike traditional futures, these contracts do not have fixed expirations, allowing traders to maintain positions indefinitely.
“Blockchains run 24/7—it’s just software”
Coinbase’s move comes as traditional financial markets explore continuous trading. In fact, Nasdaq has recently announced plans to introduce 24-hour stock trading by 2026, citing the growing demand for always-on markets.
According to Nasdaq President Tal Cohen,
“We are excited to share that Nasdaq has begun engaging with regulators, market participants and other key stakeholders, with a view of enabling 24-hour trading five days a week on the Nasdaq Stock Market.”
Along with that, Robinhood CEO Vlad Tenev has also highlighted how blockchain technology enables seamless, round-the-clock trading. This, in contrast with legacy financial infrastructure that relies on set trading windows.
“24/7 is going to be tough with traditional infrastructure, but if we think about tokenization, that’s one of the advantages… blockchains run 24/7—it’s just software.”
Greg Tusar, Coinbase’s VP of Institutional Product, believes that the move is in response to strong demand from crypto-native traders.
“Crypto markets never sleep, and traders need the ability to manage risk and seize opportunities in real time. By introducing 24/7 futures and developing a perpetual-style contract, we’re bringing US-regulated markets in line with the global crypto economy.”
The push towards 24/7 trading has already demonstrated benefits in some global markets.
For instance, the Taiwan Stock Exchange reportedly saw trading volumes climb after introducing more continuous trading sessions.
The rise of crypto derivatives
The crypto derivatives market, which represents about 75% of total crypto trading volume, is projected to grow from $1.5 billion in 2024 to $5 billion by 2032.
Historically, much of this trading activity has occurred offshore, on platforms like Binance, which have offered perpetual futures and 24/7 trading beyond the reach of U.S regulators.
With Coinbase now launching continuous futures in a CFTC-regulated environment, U.S-based traders have a compliant alternative to offshore exchanges.
Recent events highlighted the limitations of fixed hours – When Donald Trump announced a proposed U.S Crypto Reserve on a Sunday, crypto traders could react instantly, while traditional market participants had to wait until Monday.
This delay underlined the inefficiencies of legacy market structures in a digital-first era.
