Coinbase Doubles Down on Bitcoin as COIN Soars 20% Following Futures Rollout

Wall Street's latest crypto love affair gets a derivatives twist.

Coinbase just loaded up on Bitcoin—again—while institutional traders pile into its newly launched futures contracts. The move sent COIN shares skyrocketing as the exchange capitalizes on renewed institutional interest.

Why the frenzy? Three words: Leveraged betting opportunities. The futures launch lets big players speculate without touching actual BTC—perfect for hedge funds who still pretend to hate crypto at cocktail parties.

Meanwhile, Coinbase's growing BTC reserves suggest either: a) unwavering conviction in Bitcoin's long-term value, or b) a hedge against their own stock's volatility. Probably both.

The kicker? This all happens while SEC Chair Gary Gensler mutters about 'lack of regulatory clarity'—the same excuse he's used since 2021. Some things never change.

TLDR

• Coinbase stock climbed to over $381 after the announcement of U.S. perpetual-style futures.
• The new futures contracts will launch on July 21 through Coinbase’s CFTC-registered exchange.
• Coinbase will start with nano-sized contracts for Bitcoin and Ethereum to attract broader participation.
• The CEO confirmed that Coinbase is buying more Bitcoin each week as part of its investment strategy.
• Coinbase currently holds around 25 percent of its investment assets in Bitcoin.

Coinbase stock climbed above $381 on June 26, reaching its highest level in years. This came after the exchange confirmed the upcoming launch of U.S.-based perpetual-style futures on its CFTC-registered derivatives platform. CEO Brian Armstrong acknowledged Coinbase is steadily increasing its Bitcoin holdings but stopped short of a full treasury allocation.

Coinbase Stock Gains on U.S. Derivatives Expansion

Coinbase announced it will begin offering perpetual-style futures contracts in the United States starting July 21. These contracts include nano-sized offerings of 0.01 BTC and 0.10 ETH, allowing retail participation with lower capital. They mimic global perpetual futures features while remaining fully compliant with U.S. commodities regulations.

The derivatives will trade 24/7 and carry leverage but without fixed expiry dates. Regulatory approval came through Coinbase Derivatives Exchange, the firm’s CFTC-registered platform. This allows Coinbase to offer these products legally under CFTC supervision.

Perpetual futures dominate international crypto markets but faced regulatory hurdles in the U.S. until now. U.S. exchanges hesitated due to enforcement risks tied to unregistered offerings. Coinbase’s move signals growing regulatory clarity and investor confidence in compliant platforms.

Bitcoin Holdings Grow, But Full Treasury Allocation Unlikely

Despite celebrating bitcoin purchases, Coinbase maintains a conservative allocation strategy. Armstrong confirmed the firm holds about 25% of investment assets in Bitcoin but ruled out aggressive accumulation. Executives weighed a higher allocation but determined it posed unnecessary risk.

The company has chosen a measured approach, contrasting with firms like MicroStrategy. Armstrong said that converting 80% of assets into Bitcoin WOULD overexpose the company. Instead, Coinbase continues weekly purchases without significantly altering its treasury structure.

Armstrong responded after Bitcoin Magazine’s David Bailey publicly urged Coinbase to expand its Bitcoin treasury. The CEO emphasized that Coinbase prefers balancing exposure with operational flexibility. The exchange continues to support Bitcoin through custodial services and product offerings.

Kudos to @brian_armstrong who is a total G and rightfully earned the ATH. Now he just needs to build a proper Bitcoin treasury https://t.co/CkPpklH2eL

— David Bailey🇵🇷 $1.0mm/btc is the floor (@DavidFBailey) June 26, 2025

COIN Surges But Remains Below All-Time High

COIN shares surged following the announcement, signaling investor Optimism around the new derivatives product. The stock peaked at over $381, its highest since Coinbase’s early trading days. However, it still trades below its all-time high of $429.54.

Analysts attribute recent gains to regulatory approval and strategic market expansion. Coinbase has shown strong momentum amid rising institutional interest in compliant crypto instruments. The company continues to expand its product suite while maintaining regulatory alignment.