Coinbase is expanding its derivatives offering with GOLD-PERP and SILVER-PERP—perpetual futures contracts that provide exposure to gold and silver prices without ownership of the physical metals.
Leveraged exposure to precious metals
The contracts are settled in USDC and have no fixed expiration date. Maximum leverage is up to 25× for gold and up to 20× for silver. Coinbase says trading is available 24/7, subject to regular maintenance breaks.
Key specifications
| Specification | Gold | Silver |
|---|---|---|
| Instrument | GOLD-PERP | SILVER-PERP |
| Type | Perpetual futures | Perpetual futures |
| Maximum leverage | Up to 25× | Up to 20× |
| Settlement | USDC | USDC |
| Expiration | None | None |
| Trading | 24/7* | 24/7* |
Exposure to gold and silver through perpetual futures
GOLD-PERP and SILVER-PERP are designed to track movements in gold and silver prices. They allow eligible clients to trade exposure to these markets without acquiring physical metals.
Because the contracts have no fixed expiration date, positions do not close automatically on a predetermined date. However, perpetual futures may use mechanisms such as periodic payments between participants, as set out in the product specifications.
Diversification beyond crypto
The addition of gold and silver expands Coinbase’s derivatives offering beyond crypto assets. Investors can follow and trade exposure to traditional precious metals markets within the same trading environment.
It is important to distinguish between the perpetual futures offered on Coinbase’s international platform and the standard futures contracts offered through Coinbase Derivatives in the United States. Availability and terms depend on the product and jurisdiction.
Regulatory status and access
Coinbase Derivatives is a regulated Designated Contract Market (DCM) overseen by the U.S. Commodity Futures Trading Commission (CFTC). This applies to the relevant U.S. market and should not be taken to mean that all Coinbase products have the same regulatory status.
For clients in the European Economic Area, access to derivatives may be limited to eligible clients and may depend on suitability assessments, target-market requirements, and other regulatory conditions.
What does this mean for investors?
The new offering shows Coinbase expanding its platform to include a broader range of derivatives. The main change for investors is the ability to gain exposure to gold and silver through futures contracts without directly buying or storing the metals.
These contracts are not equivalent to owning physical gold or silver. The value of a position can change rapidly, and leverage amplifies the effect of market movements on the capital invested.
Investor Impact
Market choice: ↑
GOLD-PERP and SILVER-PERP add exposure to two widely followed precious metals markets to Coinbase’s derivatives offering.
Leverage risk: ↑
Leverage of up to 25× for gold and 20× for silver allows greater market exposure relative to the initial capital, but can also increase losses and the risk of liquidation.
Risk: Futures are complex financial instruments. Leverage can significantly increase both potential gains and losses. An adverse market move may result in the investor losing a substantial part or all of the capital committed. Positions may also be liquidated, and funding costs and technical maintenance breaks may apply.
* Coinbase says the derivatives exchange has a regular weekly maintenance break, as well as additional technical maintenance periods.
This material is for informational purposes only and does not constitute investment advice.