Mentioned:
Coinbase has a new ambition: speculating on companies before they IPO.
What’s happening:
- Coinbase (NASDAQ: COIN) has officially launched pre-IPO perpetual futures
Why it matters:
- This is the first time ever that Coinbase has launched pre-IPO perpetual futures on their platform
Going deeper:
- Coinbase’s first pre-IPO perpetual future is focused on SpaceX’s upcoming IPO and will roll into a standard SpaceX perpetual future when SpaceX successfully lists on the Nasdaq
- Pre-IPO perpetual futures on Coinbase are currently trading through Coinbase’s derivative entities and are not available to Coinbase users located in the United States, Canada or the United Kingdom
- Coinbase has been aggressively making moves focused on stock trading lately, including previously rolling out access to equities and ETFs for users in the United States directly on Coinbase’s platform for the first time ever
The fine print:
- Pre-IPO perpetual futures do not actually represent any equity ownership in SpaceX and are not endorsed in any way by SpaceX
