Coinbase launches 24/7 U.S. gold and silver futures

Coinbase announced on June 13 that gold and silver futures will trade around the clock in the United States on Coinbase Derivatives, its Commodity Futures Trading Commission‑regulated Designated Contract Market. The contracts will be available to eligible U.S. customers through approved futures commission merchants and broker platforms, subject to maintenance windows and platform eligibility rules.

Access to the always-on contracts requires routing through approved intermediaries and meeting Coinbase’s eligibility and risk-management controls. Coinbase said the platform will apply margin and other risk rules that can trigger calls or liquidations at any hour, rather than waiting for a standard market open.

CEO Brian Armstrong described the launch as among several recent firsts for the company, calling 24/7 U.S. trading for gold and silver futures “setting a lot of world firsts recently.” The announcement follows a June 11 CFTC clearance that allowed Coinbase Financial Markets to operate as a futures commission merchant offering onshore access to global crypto perpetual futures.

Coinbase designed the metal futures with smaller contract sizes and capital‑efficient parameters intended to reduce some barriers found in legacy commodity contracts, such as large minimum sizes and limited trading sessions. For non‑U.S. traders, the exchange introduced GOLD‑PERP and SILVER‑PERP perpetual futures in May that settle in USD Coin (USDC) and provide up to 25x leverage.

The company reported more than $52 billion in notional volume across traditional commodity futures in the first quarter of 2026. Coinbase said that figure reflects rising demand for always‑open markets for real‑world assets.

Coinbase noted the continuous trading model carries operational and market risks: leverage can magnify losses during periods of thin overnight liquidity, and price moves tied to macroeconomic news often occur outside standard U.S. hours. The exchange stated its contracts include risk controls and that eligibility and broker routing rules will govern who can trade the products.

Traditional U.S. metals futures typically trade in set sessions and settle through established clearing arrangements. Coinbase’s offering uses smaller contract sizes, crypto‑style settlement for its non‑U.S. perpetuals, and on‑platform risk tools aimed at both retail and institutional users. The company cited market values of roughly $13 trillion for gold and about $1.4 trillion for silver when describing the addressable markets for the new products.