Coinbase has opened U.S.-regulated gold and silver futures to 24/7 trading, extending the always-on market structure of crypto into traditional commodity derivatives. The change applies to go
Coinbase has opened U.S.-regulated gold and silver futures to 24/7 trading, extending the always-on market structure of crypto into traditional commodity derivatives.
The change applies to gold and silver futures listed on Coinbase Derivatives, a CFTC-registered designated contract market. The exchange lists gold futures with a 1 troy ounce contract size and silver futures with a 50 troy ounce contract size, giving eligible traders regulated exposure to precious metals through smaller futures contracts.
The new hours bring metals closer to crypto trading behavior. Instead of waiting for weekday session reopens, traders can react to weekend macro headlines, geopolitical shocks, currency moves and risk-market changes while the futures market remains open. Coinbase’s 24/7 setup uses a weekly maintenance window, with weekend activity processed for clearing and reporting under the next business-day structure.
Oil is expected to follow. That would push Coinbase further into the market for always-open commodity exposure, where energy prices can move sharply on geopolitical news, supply disruptions, shipping risk, OPEC decisions and weekend headlines.
The launch fits Coinbase’s broader “everything exchange” strategy, which has already moved beyond spot crypto into regulated futures, perpetual-style crypto products, equity index exposure and commodity-linked contracts. Coinbase had already expanded its derivatives business into oil and gold futures, then later added silver futures and 24/7 trading support for several crypto futures contracts.
The commodity push also connects to Coinbase’s international derivatives business. Eligible non-U.S. traders already have access to gold and silver perpetual futures through Coinbase International Exchange, with USDC-settled contracts built for crypto-native trading. In the U.S., the 24/7 gold and silver products remain traditional futures listed through Coinbase Derivatives and accessed through approved FCMs and broker platforms.
That split matters. U.S. products are regulated futures contracts, not offshore-style commodity perps. Still, the user experience is moving closer to crypto: smaller contract sizes, round-the-clock access, faster reaction windows and a single exchange stack that can support crypto, metals, index products and eventually more commodity exposure.
The same market-structure shift has been spreading through data providers too. Pyth’s 24/7 indices for equities, metals and oil show how trading platforms are preparing continuous reference prices for assets that historically depended on traditional market sessions.
Coinbase’s metals expansion arrives as regulators examine how far round-the-clock trading should extend into traditional markets. The CFTC recently opened a faster route for U.S. crypto perpetual futures, giving regulated exchanges more room to compete with offshore and onchain crypto derivatives.
Commodities bring a harder test. CME Group has been preparing its own 24/7 commodity rollout, including 1-ounce gold futures and a planned 10-barrel WTI crude oil contract. The oil product has drawn extra attention because regulators are reportedly weighing whether 24/7 crude trading could worsen volatility during thin liquidity periods. That debate already shaped the CFTC review of CME’s 24/7 oil futures plan.
The competitive pressure is also coming from crypto-native markets. Hyperliquid’s oil-linked products previously triggered concerns from CME and ICE over price discovery, manipulation risk and sanctions exposure, putting onchain derivatives into a broader commodity-market debate. The earlier Hyperliquid oil-market dispute showed why regulated exchanges now want their own always-open commodity rails before the crypto market defines the category alone.
Coinbase’s move makes the next phase more direct. Gold and silver are already trading around the clock through a U.S.-regulated crypto exchange group, oil is next in line, and the boundary between crypto market hours and traditional commodity markets is narrowing fast.
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