Coinbase to launch CRCL, HOOD and MSTR perpetual futures on July 21
The cash-settled, USDC-margined contracts for eligible non-U.S. customers will offer up to 10x leverage and extend Coinbase’s push into round-the-clock stock perpetuals tied to crypto-linked equities.
Coinbase is set to roll out perpetual futures linked to Circle Internet Group (CRCL), Robinhood Markets (HOOD) and MicroStrategy (MSTR), with trading scheduled to begin on or after 09:00 UTC on July 21. The contracts will be available to eligible non-U.S. customers, consistent with Coinbase’s existing stock perpetual futures offering, and will be cash-settled in USDC with leverage of up to 10x. The launch builds on Coinbase’s March 2026 debut of stock perpetual futures for non-U.S. users and deepens its exposure to crypto-linked equities that traders often use as proxies for broader digital-asset sentiment. MicroStrategy has become closely associated with Bitcoin through its corporate holdings, Robinhood has expanded its crypto business, and Circle represents a listed play on stablecoin adoption. The 24/7 structure gives traders a way to react to crypto market moves outside traditional stock-market hours, though the relationship between these shares and Bitcoin can diverge during company-specific events.
- perpetual futures: Derivatives contracts with no expiry date that can track an underlying asset continuously.
- cash-settled: A contract structure in which gains and losses are paid in cash or a cash-equivalent asset rather than through delivery of the underlying security.
- leverage: The use of borrowed exposure to control a larger position than the trader’s posted collateral would otherwise allow.