Coinbase has opened regulated access to global crypto options and perpetual futures for institutions on Coinbase Prime, the exchange said in a post on Tuesday.
The company framed the launch as regulated access for institutions in the United States and other eligible regions. It said the products sit on one unified liquidity pool for US and global traders.
The contracts are powered by Deribit. They are offered through Coinbase Financial Markets, Inc., a CFTC-registered futures commission merchant and a member of the National Futures Association.
Deribit does not offer its services directly in the United States. That separation is central to how Coinbase is describing the product.
What institutions can trade
Reports of the Coinbase announcement said the offering covers more than 20 assets. Those named include Bitcoin, Ether, Solana, XRP, Avalanche and HYPE.
Initial collateral is Bitcoin, Ether and USDC, according to the same reports, with more collateral types planned.
Access is restricted to eligible institutions and is subject to jurisdictional limits. Related Coinbase Prime help context describes Eligible Contract Participants, with Coinbase Financial Markets acting as the broker.
This launch is not a retail US product. The copy should not be read as opening options or perpetual futures to ordinary US retail accounts on Coinbase's consumer app.
Readers weighing the broader Coinbase stack can start with Invezz’s Coinbase review and our guide to the best crypto exchanges.
Deribit integration flagged in October
Coinbase said on 7 October that its Deribit integration was complete and had created Coinbase Global Exchange.
In that blog post, the company said it would roll out Deribit-powered options and related products in the coming weeks. It cited more than $30bn of Bitcoin options open interest as of 30 September and more than $1tn of Deribit trading volume in the previous year.
Those figures are Coinbase's dated October statements about Deribit's market. They are not disclosed volumes or open interest for this Prime launch day.
Tuesday's post is the public marker that the institutional rollout has begun on Prime. Secondary outlets, including The Crypto Times, quoted Coinbase's language on regulated access and the unified liquidity pool.
Why the FCM structure matters
Routing the offering through a CFTC-registered FCM is how Coinbase is presenting regulated US institutional access without Deribit serving US clients itself.
For compliance and risk teams, that distinction matters. Institutions still need to confirm their own eligibility, onboarding path and product permissions with Coinbase Prime before trading.
Collateral choice will also matter in practice. Starting with Bitcoin, Ether and USDC keeps the initial set narrow, while Coinbase has signalled that more collateral options are planned.
The asset list of more than 20 names, if confirmed on Coinbase's own help pages, would put options and perpetual futures coverage well beyond a Bitcoin-only institutional book.
What to watch next
The next details to confirm are the exact participant criteria, how onboarding differs by region, and which further collateral types are added.
Until Coinbase publishes a fuller Prime help article restating the launch, treat Tuesday's post and attributed secondary coverage as the source of record for the go-live date.
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