Coinbase's Deribit exchange will start trading perpetual contracts for three stocks — SPCX, MSTR, and HOOD — on August 31. The move is part of Deribit's broader real-world asset (RWA) product suite and its plan to migrate international derivatives onto the platform.
The three tickers
Perpetual contracts are derivatives that track the price of an underlying asset without a set expiration date. Traders can hold positions as long as they want, paying or receiving funding fees along the way. Deribit, known primarily for crypto options and futures, is now applying that model to equities.
The three tickers — SPCX, MSTR, and HOOD — will be the first stock perpetuals on the exchange. The contracts will let traders speculate on price moves in these companies without owning the shares directly. That's a familiar setup for crypto traders, but a new one for stock-focused investors on Deribit.
Part of a bigger push
The launch isn't a one-off. Deribit has been building out a real-world asset suite, and these stock perpetuals are the latest piece. The exchange also plans to shift its international derivatives business to Deribit, consolidating operations under one roof. That suggests more traditional assets could follow.
For Coinbase, which owns Deribit, the move ties into a broader strategy of bridging crypto and traditional finance. By offering stock derivatives on a crypto-native exchange, the company is testing whether the two worlds can coexist on the same infrastructure.
What's on the line
Perpetual contracts are a high-leverage product. They're popular in crypto because they allow traders to go long or short with margin. Applying that to stocks brings a new level of speculation to names like MSTR and HOOD, which are already volatile. SPCX, meanwhile, is a less familiar ticker, and it's unclear what company it represents.
The exchange hasn't said whether more stocks will be added after these three. It also hasn't detailed the contract specifications, like margin requirements or funding rates. Those details will likely come closer to the launch date.
For now, the key date is August 31. That's when the contracts go live, and traders will get their first look at how stock perpetuals behave on Deribit.
