Pre-IPO perpetual futures launch on Coinbase.
Source Coinbase Cointelegraph reached out to Coinbase for comment, but did not receive a response by publication
The launch comes amid intensifying competition among crypto exchanges to bring private market exposure into tokenized or synthetic form. Kraken’s parent company, Payward, announced a similar initiative Wednesday, offering tokenized access to pre-IPO companies. Related: Coinbase invests in ProShares ETF tailored for stablecoin reserve assets Binance also launched derivative products linked to high-profile private firms, including SpaceX, in May, while in April, Bitget launched IPO Prime, a platform for pre-IPO investment products, starting with a SpaceX-linked offering.
The broader push coincides with accelerating interest in tokenized real-world assets. Research from Bernstein released May 26 estimated the RWA market has grown to $51 billion, expanding 42% this year as investors seek fractional exposure to traditionally illiquid private assets. A separate Bitget report, published May 26, found tokenized stocks still make up a low-single-digit share of the RWA market, with most activity clustered in a few big-tech names such as Tesla, Alphabet and Microsoft trading on offshore platforms.