- Coinbase has announced U.S.-regulated perpetual futures contracts for Bitcoin and Ethereum
- The companys share price has surged to its highest level since its 2021 public debut
- Analysts have raised price targets, citing regulatory momentum and product expansion
Coinbase has announced its first-ever U.S.-regulated perpetual futures for Bitcoin and Ethereum, causing its share price to soar past previous highs. The stock rally was fueled by optimism over the exchanges new trading products, alongside growing investor confidence in its regulatory positioning. Analysts responded with upgraded price targets, some comparing Coinbase to tech giants like Amazon due to its growing market dominance, with the company saying its new offering will fill a critical gap in the U.S. market.
Coinbase Perpetually Advancing
Coinbase revealed it will launch perpetual futures contracts on July 21 for nano Bitcoin (0.01 BTC) and Ethereum (0.1 ETH). These contracts, commonly used in international crypto markets, allow leveraged trading around the clock without expiration. Until now, U.S. customers have lacked access to these products from a regulated American exchange. CEO Brian Armstrong announced the new product in an X post, referencing user demand:
The move is designed to attract institutional and retail traders looking for sophisticated hedging tools without needing to rely on offshore platforms, with the contracts themselves regulated under the Commodity Futures Trading Commission and available via Coinbase Financial Markets.
Stock Price Breaks Records
The market responded swiftly and positively, with Coinbase shares surging to an intraday high of $382, marking their highest level since the companys Nasdaq debut in April 2021. So far in 2025, Coinbase has more than doubled in value, reflecting broader bullishness in crypto equities:
This performance follows a steady rise throughout 2024, buoyed by increasing crypto adoption, favorable legal outcomes, and growing interest in compliant trading infrastructure. Bernstein described Coinbase as the Amazon of crypto and praised its vertically integrated strategy, highlighting its broadening product suite and setting a target of $510 for the share price.
The futures launch also arrives amid progress on U.S. crypto regulation, including movement on stablecoin frameworks and bipartisan interest in market structure reform. With these tailwinds, Coinbase appears well-positioned to dominate both retail and institutional segments of the American crypto landscape.
