Coinbase granted US futures approval

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Shares in crypto platform Coinbase have continued to rise in after hours trading after it announced its first quarterly profit since 2021.
Shares in crypto platform Coinbase have continued to rise in after hours trading after it announced its first quarterly profit since 2021.

Coinbase Global says it has secured approval to offer cryptocurrency futures to US retail customers.

The approval means Coinbase can now offer Bitcoin and Ethereum futures directly to eligible customers. Until now, only its institutional clients could trade in such products.

“This is a critical milestone that reaffirms our commitment to operate a regulated and compliant business,” a Coinbase spokesperson said.

Shares in Coinbase climbed three per cent to $81.55 after the approval was granted by the National Futures Association (NFA), a self-regulatory organisation designated by the Commodity Futures Trading Commission (CFTC). The price has since returned to $79.