[Coinbase Stock Futures Rules Set $100 Billion Market Cap Threshold, COIN Itself Does Not Qualify] According to the SEC's publicly disclosed SR-COIN-2026-002 document, Coinbase Derivatives submitted a relevant rulebook on September 18, proposing the launch of single-stock perpetual contracts. Based on current market cap estimates, Coinbase and Strategy have market caps of approximately $51.2 billion and $59.1 billion, respectively, both falling short of the proposed $100 billion threshold. Smaller crypto-related stocks such as MARA, Hut 8, and Strive also fail to meet the criteria. If implemented under the existing standards, the initial eligible targets would primarily include major U.S. stocks such as Apple, Microsoft, Tesla, and Nvidia.