On Thursday, Coinbase introduced a perpetual futures contract linked to SpaceX, enabling traders to speculate on the company's private-market valuation without owning shares.
This product, available only to non-U.S. traders, reflects a rising interest among retail investors for access to private companies before they go public, a privilege traditionally held by venture capitalists and accredited investors. Liz Martin, Coinbase's head of derivatives, emphasized the value of providing non-correlated exposure to high-conviction assets in today's market.
The launch comes as Coinbase seeks to diversify its offerings amid a downturn in crypto prices, with Bitcoin recently hitting $61,340.71, its lowest since February. The perpetual futures contracts allow for leveraged trading without expiration dates, and they represent a significant portion of trading volume on crypto exchanges.
Coinbase plans to expand this product line to include other sectors like AI and energy, following the anticipated public listing of SpaceX next week. This move positions Coinbase strategically in a competitive market, especially as the U.S. derivatives regulator has recently approved regulated, U.S.-listed perpetual contracts