Coinbase Launches Equity Perpetual Futures

Find out our latest reports, listed below:

• Block Scholes x Panoptic: Bridging The Onchain Convexity Gap

• Volatility Report: February 2026

• 2026 – the year of RWA perps?
  

• Bybit x Block Scholes: “2026: It's Different This Time?”

Market Snapshot: Overnight Moves

Daily Updates:

• Over the past 24 hours, BTC briefly decreased below $69k before stabilising back around the $70-71K area, while ETH is still trading in the range of $2-2.1K.
• US spot Bitcoin ETFs saw roughly $253.71M of net outflows combined on Wednesday and Thursday, ending the recent inflow streak, although March-to-date flows remain steadily positive at around $1.52B. 
• Equity markets traded modestly lower yesterday, with the S&P 500 down 0.27% and the Nasdaq declining 0.28%.

• This week marked an alignment across global monetary policy. 
• Following the Federal Reserve’s decision to hold rates on Wednesday, the Bank of England, European Central Bank and Bank of Japan all left policy unchanged.
• Each also mentioned the US’s war in Iran and the resulting impact on oil prices as key drivers of uncertainty for the path of monetary policy and a determinant for their decision not to act at this week’s meeting.

• Central banks are increasingly flagging the Middle East as a growing source of macro risk, with particular focus on energy markets and inflation dynamics.
• The Federal Reserve highlighted “uncertainty” around the economic implications, while the Bank of Japan pointed to “volatile” global financial and capital markets alongside a “significant” rise in crude oil prices.
• The Bank of England offered a more concrete assessment of the supply shock, noting that shipping through the Strait of Hormuz - through which around “one-fifth” of global oil and liquefied natural gas supply flowed - had “almost ground to a halt.”
• The European Central Bank placed greater emphasis on the inflationary fallout, warning that higher energy prices are likely to push inflation “above 2 per cent” in the near term while also weighing on growth, real incomes, and confidence.

• Oil markets have moved sharply higher, with WTI at $96.12 and Brent at $110.30, reflecting escalating geopolitical risk and tightening supply expectations.
• The move has been accompanied by a significant repricing in rates, particularly at the front end, with the US 2-year yield rising ~51bps since 27 February, while short-maturity gilts have moved even more aggressively, up ~102bps over the same period.
• In contrast, gold has retraced to $4,662/oz, giving back some recent gains despite heightened geopolitical tensions, as rising US yields and a stronger dollar weigh on the metal. 

• Initial jobless claims fell by 8,000 to 205,000 yesterday, coming in well below expectations for a 2,000 increase, while continuing claims rose only marginally to 1.857M.

• Coinbase has launched equities perpetual futures for eligible non-U.S. users, giving traders 24/7 leveraged synthetic exposure to major U.S. equities, including names from the “Magnificent 7” such as Apple, Tesla and Nvidia.
• The product extends Coinbase’s regulated global derivatives offering beyond crypto and into equities, allowing users to trade around the clock, including weekends, rather than within the limited hours of traditional U.S. stock markets.

• BTQ Technologies has launched the first working implementation of BIP 360 - a proposed quantum-resistant Bitcoin upgrade – on its Bitcoin Quantum testnet.
• The upgrade introduces a new transaction type (P2MR) that removes Taproot’s quantum vulnerability while preserving programmability, enabling developers to experiment with post-quantum Bitcoin transactions today. 

• Morgan Stanley has advanced its spot Bitcoin ETF application with a second amended S-1 filing, adding key operational details including the ticker, MSBT, proposed NYSE Arca listing, and seed basket structure. 

• Amundi, Europe’s largest asset manager, has launched the Spiko Amundi Overnight Swap Fund (SAFO), a tokenized fund debuting with $100M in committed AUM across Ethereum and Stellar. 
• Designed for treasury and collateral management, the fund offers near-instant settlement, multi-currency subscriptions and redemptions, and 24/7 transferability, with Chainlink providing on-chain NAV reporting. 

• Kalshi is reportedly raising $1B in a new funding round at a $22B valuation, marking a sharp step-up from its previous $11B valuation following its late-2025 Series E raise.

• T-REX Network has launched the T-REX Ledger, a Polygon-based blockchain built using Polygon CDK and AggLayer, designed to act as a shared compliance layer for permissioned ERC-3643 tokens.
• The network aims to provide a single “source of truth” for investor registries, eligibility rules, and transfer restrictions across chains, enabling regulated assets to move without fragmenting compliance.
• The initiative is backed by Tokeny - creator of ERC-3643 and majority-owned by Apex Group, a multi-trillion dollar financial services provider - with over 140 institutions supporting the standard, and nearly $32B in tokenized assets issued to date.

• DDC Enterprise has added another 200 BTC to its corporate treasury, taking total holdings to 2,383 BTC worth roughly $165M.
• The purchase was made at an average price of $79,969 for BTC.

• Forward Industries, a Nasdaq-listed company that historically operated in product design and protective solutions but has since repositioned itself as a Solana-focused treasury company, is repurchasing $27.4M of its own stock using a $40M Galaxy Digital loan, deepening its SOL strategy even as the token trades below earlier accumulation levels, according to its release.
• The buyback will reduce share count by around 7% and increase the firm’s SOL-per-share exposure.

• Zenith, a newly launched execution layer designed to connect Ethereum-compatible environments with the Canton Network, said it has completed its first atomic transactions between Canton and the Zenith EVM, calling the test its “first technical milestone.”
• According to the team, the milestone demonstrated that “Ethereum-style smart contract execution” can work alongside Canton’s institutional infrastructure, which it says processes more than $9T in monthly volume.

This Week’s Calendar:

Charts of the Day: