Coinbase brings global crypto derivatives markets to US institutional clients

Coinbase Financial Markets has started offering U.S. institutional clients regulated access to global crypto options and perpetual futures by connecting to Deribit via a CFTC‑regulated futures commission merchant. The move — following CFTC guidance and Coinbase’s August 2025 acquisition of Deribit — effectively brings large offshore crypto derivatives liquidity onshore, enabling immediate institutional onboarding with wider retail access to follow. Deribit held roughly $31 billion in Bitcoin options open interest on May 27, far exceeding other venues, underscoring the scale of liquidity being tapped. The launch, alongside expanded CME crypto products and other U.S. exchange moves, could increase institutional participation, deepen onshore derivatives markets and support greater price discovery and liquidity for major tokens.