Coinbase launched pre-IPO perpetual contracts on 2026-06-04, debuting with SpaceX as the platform's first listing. The market is available to eligible users outside the U.S., offers 24/7 trading, settles in USDC, and has no expiry. Brian Armstrong positioned these perps as a way to access private-company exposure pre-IPO and to aid price discovery.
Brian Armstrong (@brian_armstrong) posted on 2026-06-04 that pre-IPO perpetual contracts let users gain exposure to private companies before they go public and help with price discovery.
Pre-IPO perps are great to get exposure to private companies before they go public (outside the U.S. only for now) and to help with price discovery.
Now on Coinbase with SpaceX as our first listing.
Coinbase 🛡️ (@coinbase)
Pre-IPO perps are coming to Coinbase.
Starting today with SpaceX - now live for eligible users outside the US.
24/7 trading. USDC-settled. No expiry.
Video
— https://nitter.net/coinbase/status/2062475039358816625#m