Interactive Brokers Partners with Coinbase to Offer “Perpetual‑Style” Bitcoin and Ethereum Futures
New nano‑contracts give IBKR’s 4.5 million clients access to both traditional monthly‑expiry and perpetual crypto futures, reflecting a broader push by legacy finance into digital‑asset markets.
NEW YORK, Feb 10 2026 – Interactive Brokers (IBKR), one of the world’s largest retail brokerage firms, announced the launch of ultra‑small Bitcoin (BTC) and Ethereum (ETH) futures contracts that are cleared through Coinbase Derivatives. The products combine the familiar monthly‑expiration structure of conventional futures with the continuously‑rolling “perpetual‑style” contracts that have become a mainstay on leading crypto‑derivatives platforms.
The two contract types are bundled under a single “nano” offering, allowing traders to open positions as small as a fraction of a standard futures contract. By routing the trades through Coinbase’s derivative exchange, IBKR taps an already‑established infrastructure for both settlement and risk‑management, while extending its crypto suite beyond the stable‑coin deposit capability it introduced in December.
Market context
Perpetual derivatives have surged in popularity over the past year. Decentralised platforms such as Hyperliquid, Lighter and Aster have driven trading volumes to unprecedented levels. According to data from DeFiLlama, total value traded in decentralized perpetuals climbed to roughly $8 trillion in 2025, up from $2.55 trillion in 2024 and $690 billion in 2023. The growth reflects both higher price volatility and broader institutional participation.
Traditional venues are moving in tandem. The CME Group, for example, rolled out futures on a suite of altcoins this week and hinted at a forthcoming tokenised cash product during its earnings call. Unlike earlier market cycles, where many legacy firms retreated as crypto prices slipped, major players such as CME and IBKR are expanding their exposure even as Bitcoin has shed more than half of its value from its October 2025 peak.
How the IBKR‑Coinbase partnership works
- Contract size – The “nano” contracts are sized to suit retail and smaller‑institutional accounts, lowering the capital barrier to entry for futures trading.
- Clearing and settlement – All positions are cleared on Coinbase Derivatives, which handles margining, liquidity provision and settlement in US‑dollar terms.
- Product mix – Clients can choose between standard futures with a set expiry date and perpetual‑style contracts that roll over automatically, mirroring the mechanics of popular crypto‑only platforms.
- Regulatory posture – By operating through a U.S.‑based, regulated exchange, IBKR offers a familiar compliance framework for clients accustomed to conventional brokerage services.
Analyst perspective
The move underscores a strategic shift among traditional broker‑dealers: rather than offering crypto as a peripheral service, they are integrating it into core trading workflows. “IBKR’s nano contracts give everyday investors the same tools that professional crypto traders have been using for years, but with the added comfort of a regulated broker,” said Maya Patel, senior research analyst at CryptoInsights. “The partnership with Coinbase also mitigates operational risk for IBKR, as it leverages an exchange that already meets stringent U.S. regulatory standards.”
The addition of perpetual‑style futures could be especially appealing in a market where traders seek to hedge or speculate without worrying about rollover costs. However, the rapid influx of trad‑fi participants does not guarantee a price uplift for the underlying assets. “Liquidity will improve, but price discovery will still be driven largely by on‑chain activity and macro sentiment,” Patel added.
Key takeaways
- IBKR expands crypto product suite – The brokerage now offers both traditional month‑end futures and perpetual‑style contracts for BTC and ETH, targeting its 4.5 million‑strong client base.
- Nano contract sizing lowers entry barriers – Smaller contract denominations make futures trading accessible to investors who previously could not meet the high margin requirements of standard contracts.
- Coinbase Derivatives serves as the clearing partner – The collaboration provides a regulated clearinghouse and leverages Coinbase’s established liquidity pools.
- Perpetual trading volumes continue to explode – Decentralised perpetuals reached $8 trillion in 2025, a three‑fold increase over the previous year, signalling strong demand for these instruments.
- Traditional finance stays the course – Despite a 50 %+ decline in Bitcoin’s price from its late‑2025 peak, firms such as CME and IBKR are deepening their crypto footprints, suggesting a longer‑term commitment rather than a short‑term speculative push.
As the line between conventional finance and decentralized markets continues to blur, the IBKR‑Coinbase partnership may serve as a template for how regulated brokerages can safely introduce sophisticated crypto derivatives to a broader audience.
Source: https://thedefiant.io/news/tradfi-and-fintech/interactive-brokers-taps-coinbase-for-perpetual-style-crypto-futures
