Coinbase introduces thematic perps tracking China, AI and US national security equity indexes
The Block
05-22 06:04
Ai Focus
The contracts are based on MarketVector’s existing AI, defense and China indexes that track the 10 largest companies per sector.
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Coinbase is rolling out a set of perps-like equity index futures, according to an announcement on Thursday. In addition to a contract tracking the top 100 Nasdaq-listed firms, called Tech100 (TEK), the exchange will list three thematic contracts to provide exposure to AI and national security industries, as well as China.

The contracts will be available for trading beginning June 8 via the Coinbase Derivatives, which is overseen by the U.S. Commodity Futures Trading Commission. Coinbase’s "perpetual-style" offerings use funding rates to track the underlying index closely, while providing around-the-clock access.

According to the announcement, the thematic contracts are based on MarketVector’s existing US Listed AI 10, US Listed Defense 10, and US Listed China 10 indexes.

The China10 (CHN) contract will track the top 10 largest or most liquid American Depositary Receipts (ADRs) representing shares of Chinese companies listed on exchanges like Nasdaq and NYSE. This includes firms like Alibaba, Baidu, and JD.com.

MarketVector’s AI10 index is built to track businesses that derive at least 50% of their revenue from AI infrastructure, data, and applications, including Nvidia, Microsoft, Amazon, Google-parent Alphabet, Meta, Oracle, and Palantir, among others.

The indices sometimes include overlapping companies, with Alibaba appearing on both the AI and China indexes and Palantir listed on both the A10 and Defense10.

Coinbase has been ramping up its derivatives offerings over the past year, beginning with a select perps-like crypto futures in July 2025. It also recently introduced equities futures for highly liquid stocks like Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla, its "magnificent 7" in March.

The exchange has also launched a "Mag7 + Crypto Equity Index Futures" product tracking those stocks and BlackRock's spot Bitcoin and Ethereum ETFs.

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