Coinbase Launches Pre-IPO Perpetuals With SpaceX

Published by

Nidhi Kolhapur

June 4, 2026

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Coinbase has launched Pre-IPO perpetual futures, giving eligible non-U.S. users a new way to trade private company valuations before they go public. The first offering will track SpaceX, with contracts settled in USDC and available 24/7 without expiration dates. Announced by Coinbase CEO Brian Armstrong, the product is designed for both institutional and retail traders. The launch matters because it expands access to private market exposure through crypto rails. Once a company completes an IPO, positions will automatically convert into standard perpetual futures contracts.

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