Coinbase has introduced perpetual futures on shares of private companies prior to their IPOs. The first instrument launched is a pre-IPO perpetual futures contract on SpaceX.
The contracts are settled in USDC and traded 24 hours a day with no expiration date. Upon SpaceX’s IPO, positions will automatically convert into standard perpetual futures.
This instrument does not involve holding actual shares and does not require a brokerage account. Plans are underway to add pre-IPO futures on companies from the technology, AI, energy, and space sectors.
The product is available to qualified traders outside the U.S. The contracts are issued by Coinbase Bermuda Ltd., which is licensed by the Bermuda Monetary Authority.
Continue reading this article on source: coinbase.com