Coinbase Derivatives Proposes $100 Billion Market Cap Threshold for Single-Stock Futures

According to SEC filing SR-COIN-2026-002, Coinbase Derivatives submitted a rulebook on September 18 proposing the launch of single-stock perpetual futures. The proposal sets a $100 billion market capitalization threshold for underlying assets. Under current valuations, Coinbase (COIN) and MicroStrategy (Strategy) do not meet this requirement, nor do smaller crypto-related stocks like Marathon Digital (MARA), Hut 8, or Strive. If implemented, the initial list of eligible assets would primarily include large-cap US stocks such as Apple (AAPL), Microsoft (MSFT), Tesla, and Nvidia.