Coinbase Seeks SEC Approval for 24/7 Retail Equity Perpetual Trading

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Coinbase, the largest U.S. cryptocurrency exchange, filed a proposal with the Securities and Exchange Commission (SEC) this week in Washington, D.C., seeking approval to list 24/7 equity perpetual futures. The move aims to bridge traditional finance and digital assets by allowing global retail investors to trade traditional stocks around the clock, leveraging the infrastructure of modern crypto trading.

Bridging Crypto and Traditional Equities

Perpetual swaps, which have no expiration date, are highly popular in the crypto market but remain heavily restricted in traditional U.S. finance. Coinbase’s international exchange already offers these derivatives for digital assets, but expanding into traditional equities marks a significant regulatory shift. This proposal represents the first major attempt by a crypto-native firm to bring 24/7 perpetual trading to the mainstream stock market.

A Push for Round-the-Clock Markets

Under the proposed framework, traders could speculate on major U.S. stocks like Apple or Tesla outside standard market hours. While traditional stock exchanges operate on a strict 9:30 AM to 4:00 PM EST schedule, digital asset markets never close. Coinbase argues that modern investors demand continuous access to liquidity, especially during overnight global economic events.

Regulatory Hurdles and Market Impact

Industry analysts point out that the SEC has historically maintained a cautious stance on retail access to complex derivatives. Market data shows that retail interest in 24/7 trading has surged, yet regulators worry about volatility and leverage risks. Financial law experts suggest that approval would require Coinbase to demonstrate robust risk-management protocols and investor protection standards.

What to Watch Next

If the SEC grants approval, this initiative could force traditional Wall Street institutions to accelerate their own 24/7 trading initiatives. The decision will likely set a precedent for how digital asset exchanges and traditional brokerages coexist in the future. Market participants will closely monitor the SEC’s initial response and subsequent public comment period over the coming months.