BTC Pulse 2025-05-11 15:50:00

Coinbase’s $2.9B Deribit Deal Ignites 24/7 U.S.-Regulated BTC & ETH Futures

Coinbase Launches 24/7 Regulated Futures Trading for Bitcoin and Ethereum Coinbase on May 9 announced the official launch of 24/7 trading of Bitcoin (BTC) and Ethereum (ETH) futures, marking the first time a U.S. CFTC-regulated exchange has made crypto futures trading available continuously. The service, provided via Coinbase Derivatives LLC, now allows traders to trade around the clock—including nights, weekends, and holidays. Closing the Time Gap in U.S. Crypto Markets Until now, CFTC-regulated derivatives were restricted to weekday sessions, creating a disconnect with the global crypto market’s nonstop pace. This strategic move lets traders respond instantly to volatile price shifts and aligns with crypto’s always-on nature. Coinbase said this offering will support both institutional-grade and retail-sized contracts. Clearing will be handled by Nodal Clear, ensuring compliance and transparency. Key Partnerships Powering the Launch To support this 24/7 launch, Coinbase partnered with market maker Virtu Financial and several Futures Commission Merchants, including ABN AMRO, Wedbush Securities, and Coinbase Financial Markets. Coinbase Financial Markets CEO Andy Sears called it a “game-changer,” highlighting the platform’s commitment to providing frictionless access through Coinbase Advanced. $2.9 Billion Deribit Acquisition Strengthens Strategy Coinbase’s derivatives push gathered steam with its $2.9 billion purchase of crypto options exchange Deribit, announced just a day ahead of the 24/7 futures launch. The acquisition includes $700 million in cash and 11 million Coinbase shares. The transaction, which is expected to be finalized by year-end pending regulatory approvals, adds Deribit’s options and perpetuals products to Coinbase’s growing stable—a capital-efficient platform for spot, futures, perpetuals, and options trading. Regulated Perpetual Futures in the Pipeline Further ahead, Coinbase plans to unveil U.S.-regulated perpetual-style futures—expiry-free contracts long popular on offshore exchanges. Such offerings position Coinbase to conquer a flourishing market, with April alone seeing $1.9 trillion in BTC futures volume, with $22.1 billion via Deribit. Competitive Landscape Heats Up Coinbase’s Q1 earnings revealed 37% YoY growth in subscriptions and services revenue to $698.1 million, reflecting hunger for non-trading revenue sources. Meanwhile, rivals like Kraken are expanding as well, with leveraged forex perps and UK market pushes, pointing to the fierce fight for crypto derivatives dominance in 2025.

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