Coinbase CEO Says US500 Perpetual Futures Volume Topped $100 Million Within a Week of Launch

Coinbase's US500 perpetual futures contract, based on an index of the 500 largest U.S. companies, surpassed $100 million in 24-hour trading volume within a week of its launch.

Brian Armstrong, Coinbase's chief executive officer, wrote in a post on X on Aug. 28 that the newly launched US500 index perpetual futures contract had exceeded $100 million in daily trading volume in its first week, signaling strong early momentum.

The US500 is an index-based perpetual futures product that offers exposure to the U.S. large-cap equity market. Coinbase launched the product on Aug. 17.

Armstrong said the US500 is composed of the 500 largest U.S. companies and can also be traded in the U.S. He asked users which index perpetual futures products they would like to see next.