Coinbase Expands US Crypto Futures Market with CFTC-Regulated Solana Contracts

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Veronika Rinecker

Crypto Journalist

Veronika Rinecker

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Veronika Rinecker is based in Germany and studied international journalism and media management. She specializes in reporting on topics such as politics and regulation, energy, blockchain, and...

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February 19, 2025 16:37 EST

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Coinbase is strengthening its position in the US crypto derivatives market by launching CFTC-regulated Solana (SOL) and Hedera (HBAR) futures contracts through Coinbase Derivatives.

Traders will have access to futures contracts structured to accommodate different trading strategies, including 100 SOL per contract for standard Solana Futures, 5 SOL per contract for nano Solana Futures, and 5000 HBAR per contract for Hedera Futures, Coinbase announced on Feb. 18.

With approval from the US Commodity Futures Trading Commission (CFTC), Coinbase Derivatives now offers 19 futures contracts, including those on Bitcoin (BTC), Ether (ETH), and Dogecoin (DOGE).

Bridging Crypto Futures and Traditional Finance

The addition of Solana and Hedera futures is part of Coinbase’s broader initiative to integrate digital asset trading with traditional financial markets.

In July 2022, Coinbase Derivatives also launched margined futures contracts for several major cryptocurrencies, including Avalanche (AVAX), Chainlink (LINK), Polkadot (DOT), Stellar (XLM), and Shiba Inu (SHIB).

In August 2023, Coinbase Financial Markets secured approval from the National Futures Association (NFA) to operate as a Futures Commission Merchant (FCM). Now, institutional investors can engage in regulated futures trading, enabling them to manage crypto risk and exposure more effectively.

Beyond the US, Coinbase expanded its crypto-native FX trading with the introduction of EURC perpetual futures on Coinbase International Exchange.

The EURC/USDC pair allows leveraged exposure to the Euro’s price outside the constraints of traditional FX markets. Traders can access up to 20x leverage with instant settlement and continuous pricing.

Coinbase Faces Shareholder Lawsuit Amid Institutional Expansion

As Coinbase expands its institutional offerings, the company and several top executives have been named in a shareholder lawsuit, alleging they misled investors about bankruptcy risks and engaged in risky proprietary trading practices.

According to a lawsuit filed on Feb. 18 in a New Jersey federal court by Coinbase shareholder Wenduo Guo, the complaint claims the company failed to disclose that customer assets could be considered part of its bankruptcy estate, potentially leaving retail customers as unsecured creditors.

The lawsuit further claims that Coinbase’s public statements misrepresented the security of customer funds, particularly in light of previous cryptocurrency exchange collapses.

Guo’s filing references the collapse of over 75 cryptocurrency exchanges before Coinbase’s public listing in April 2021, which left affected customers unable to recover their digital assets.

Despite assurances from company leadership, the lawsuit argues that Coinbase did not implement additional safeguards to protect customers from similar risks. It also references the US Securities and Exchange Commission’s (SEC) ongoing lawsuit against Coinbase for allegedly listing unregistered securities and operating without proper regulatory approval.

The lawsuit seeks damages and corporate governance reforms and names key executives, including Coinbase CEO Brian Armstrong and co-founder Fred Ehrsam.

Amid ongoing legal proceedings, Coinbase reported strong Q4 2024 earnings, with revenue surging 138% compared to the previous year.

The company also reported a net income of $1.3 billion, substantially higher than the $273 million earned the previous year.

Balancing Growth and Governance

Coinbase’s new futures offerings open fresh channels for traders seeking advanced crypto exposure.

At the same time, the shareholder lawsuit reminds us that confidence hinges on robust legal frameworks.

Bridging digital assets with traditional markets demands continued diligence from both regulators and platforms.

Stakeholders tracking these developments might evaluate how prepared they are for shifting compliance standards.

Though the immediate outlook seems complex, the drive for transparent trading could foster trust in the long run.

Every decision made now could influence how crypto products coexist with conventional finance tomorrow.