[Coinbase Derivatives Plans to Launch Single Stock and ETF Perpetual Futures, Pending CFTC Approval] According to SEC filings, Coinbase Derivatives has submitted a rule change proposal to establish a trading framework for cash-settled single stock and ETF share futures, including single stock perpetual futures with no fixed expiration date. These contracts are cash-settled, do not involve physical delivery, and do not grant investors ownership of the underlying securities. On the same day, Coinbase Derivatives also submitted an application to the CFTC, but approval from the CFTC is still pending, meaning the proposed rule changes have not yet taken effect. The proposed rules require the underlying securities to have an initial market capitalization of at least $100 billion at the time of listing, an average daily trading volume of at least $450 million over the past six months, and an estimated deliverable float exceeding 20 million shares. The minimum margin requirement for customers is proposed to be no less than 15% of the current market value of the securities futures.