Coinbase launches perpetual futures for gold, silver, WTI and Brent oil
Eligible non-U.S. traders can access 24/7 perpetual futures on gold, silver and the WTI and Brent crude benchmarks, with USDC settlement and no expiry for the oil contracts as Coinbase broadens its derivatives push.
Coinbase has expanded its commodities offering with perpetual futures tied to WTI and Brent crude, adding oil exposure to a broader push into non-crypto derivatives that also includes gold and silver. The oil contracts are available to eligible non-U.S. traders, trade 24/7, have no expiry date and settle in USDC, allowing users to keep positions open without the monthly rollover typical of traditional futures. The launch deepens Coinbase's derivatives buildout and places it in a market that is drawing rising interest from platforms offering always-on commodity trading. It also lands amid a regulatory dispute over how crypto-style perpetual futures linked to commodities should be treated under U.S. law, with the Commodity Futures Trading Commission, CME Group and Coinbase all part of a broader debate over perpetual contracts and round-the-clock oil trading.
- Perpetual futures: Derivatives contracts with no expiry date that let traders maintain exposure continuously, typically using funding payments instead of rolling into a new contract.
- WTI: West Texas Intermediate, a key U.S. crude oil benchmark used in commodity markets.
- Brent crude: A major international oil benchmark commonly used to price crude worldwide.