Coinbase has expanded its growing lineup of equity perpetual futures with four more US-listed stocks. The new markets track Bitmine Immersion Technologies (BMNR), Western Digital (WDC), Rocket Lab (RKLB) and Applied Optoelectronics (AAOI).
Trading in the contracts opened on November 12, 2026, at 12:00 PM UTC. Once a place to buy Bitcoin, the exchange now lets users take leveraged positions on a satellite launcher and a hard drive maker.
What Coinbase is actually offering
A perpetual future is a derivative contract with no expiry date. It is like a standing bet on a price that does not have to be settled on a set calendar day.
The four new contracts settle in $USDC, a dollar-pegged stablecoin. Settlement takes place daily at 08:00 UTC.
Leverage limits vary by trader type. Retail users can access up to 5× leverage, while institutional users can reach up to 10×.
In practical terms, at 5× leverage, a 10% move in the underlying stock translates into roughly a 50% swing in the trader’s posted collateral.
The contracts also trade 24/7. Unlike traditional stock exchanges, which close in the evenings and on weekends, these markets remain open.
Because the contracts are derivatives, holders do not own the underlying shares and receive no dividends or voting rights.
An eclectic group of four
BMNR, Bitmine Immersion Technologies, focuses on blockchain, making it the most natural fit for a crypto exchange’s audience.
The other three companies operate in traditional technology sectors. WDC, Western Digital, is in data storage. RKLB, Rocket Lab, is a space launch company. AAOI, Applied Optoelectronics, is established in fiber optics.
Coinbase’s earlier equity perpetual offerings tracked the so-called Magnificent 7, a group of major tech companies that dominates broad market indexes.
Why this is happening now
The timing is not accidental. The launch comes after recent regulatory clarity from the Commodity Futures Trading Commission (CFTC) on equity perpetual futures in the US.
The rollout is part of Coinbase’s broader ambition to become an “everything exchange.” The concept is one platform and one account offering access to crypto, stocks and derivatives side by side.
What the launch means for traders and the market
For retail traders, a clear potential draw is access outside regular trading hours. If news about a Rocket Lab launch breaks on a Saturday, traders can use a perpetual contract to react before the market opens on Monday.
For institutions, the 10× ceiling and $USDC settlement could make the contracts useful for hedging or taking positions. A desk that already holds stablecoins can express a view on Western Digital without transferring funds to a traditional brokerage account.
