Coinbase Launches Pre-IPO Perpetual Contract, with SpaceX as the inaugural asset

BlockBeats News, June 4th, Coinbase announced the launch of Pre-IPO perpetual contract products, providing eligible non-U.S. users with exposure to pre-listed company prices. The first asset to be listed is the SpaceX Pre-IPO perpetual contract.

This product is settled in USDC, supports 24/7 trading, has no expiration date or rollover, and allows users to open and close positions at any time like trading regular perpetual contracts. Once SpaceX completes its IPO, existing positions will automatically convert to SpaceX perpetual contracts without any additional action required from users, thereby achieving continuous price exposure from the private market to the public market.

Coinbase stated that it will continue to launch more Pre-IPO perpetual contracts in the future, covering sectors such as technology, AI, energy, and aerospace, to reduce the barrier for global investors to participate in pre-listed company price discovery.

At the same time, Coinbase reminded that Pre-IPO perpetual contracts use a valuation-based index pricing mechanism and carry IPO conversion risks. Compared to regular perpetual contracts, they have lower liquidity, higher volatility, and greater liquidation risks. Currently, this product is provided by Coinbase Bermuda and is not available to U.S. users.