Coinbase Just Supercharged Its Commodities Play with New Metal Futures Markets
Coinbase isn't just playing in crypto anymore. The exchange giant just threw its hat into the ring with a major expansion of its commodities suite, launching new metal futures markets. This isn't a side hustle—it's a strategic power move.
Why Metals Matter Now
Think about it. In a world where 'digital gold' gets all the headlines, why dive into the physical stuff? Because real-world assets are having a moment. Institutions want diversified portfolios that blend the old guard with the new frontier. By adding metal futures, Coinbase isn't just offering another product; it's building a one-stop shop for modern finance—where you can hedge your Bitcoin bet with a gold contract before your morning coffee gets cold.
The Platform Play
This expansion signals a deeper ambition. Coinbase is methodically constructing a full-spectrum financial platform. It started with spot crypto trading, added derivatives, and is now layering in traditional commodity exposure. They're not waiting for Wall Street to come to crypto; they're building a bridge and charging the toll. It's a classic land-grab, executed with the precision of a tech firm, not a stodgy old bank.
A Cynical Take on Convergence
Let's be real for a second. Watching a crypto-native powerhouse embrace metal futures feels like watching a rebel join the establishment it vowed to disrupt. But maybe that's the point. The real endgame isn't revolution—it's assimilation and domination. Coinbase is betting that the future of finance isn't purely digital or purely physical, but a profitable, messy blend of both. They're positioning themselves to capture flows from every corner of the market, from crypto degens to commodity hedgers. One platform to rule them all? Perhaps. Just don't call it enabling—call it capturing.
So, while traditional finance veterans scoff at crypto's volatility, the crypto giants are quietly annexing their turf. The irony is almost too rich—like a gold bar stamped with a blockchain hash.
Coinbase adds copper and platinum trading
The plan positions Coinbase as a rival of traditional brokerages even as it expands beyond its Core digital asset business into tokenized securities and event-based markets that have attracted billions in recent trading volume.
It is crucial to note however that Coinbase is not the only exchange doing something like this. Bitget and Binance recently made similar announcements, dipping their toes into traditional commodity derivatives.
Last year December, Bitget deployed a private beta for “Bitget TradFi,” which saw it offer CFD-style trading of precious metals like gold or silver, commodities, forex, indices and stocks, all to be settled in USDT directly via the exchange. The initiative became fully public this year with 79 instruments available.
This week, Binance launched regulated USDT-settled perpetual futures for Gold and silver under what it tagged a new TradFi category. In the future, there are plans to expand to other traditional assets, including crude oil and equity indices.
Analysts are bullish on the Coinbase stock
News of the new additions to Coinbase exchange’s commodities stack comes just as Bank of America (BofA) upgraded its Coinbase (COIN) to a “buy” rating, citing the exchange’s ambition, which has gone beyond crypto trading and its increasingly diversified business model.
Experts believe the expansion Coinbase is currently undergoing is designed to deepen user engagement and diversify its revenue beyond its CORE crypto trading business, which is heavily influenced by price swings in assets like Bitcoin.
Aside from enabling 24/5 stock and ETF trading for S&P 500 names, Coinbase’s equity perpetuals will launch internationally in 2026 and dabble in prediction markets through its partnership with Kalshi, a CFTC-regulated exchange.
It also has big plans for Base, its ethereum layer-2 network. The network was initially launched without a token, but the management is now allegedly considering a native token to help decentralize the platform and encourage usage.
BofA has estimated the move could bring in billions in cash, while supporting its push into decentralized finance.
There is also Coinbase Tokenize, a platform designed to bring real-world assets — like private equity and real estate — onto the blockchain. It is expected to serve asset managers interested in tapping into younger, on-chain investors while taking advantage of the faster settlement and lower fees.
The COIN stock has fallen 40% from its July high, but BofA maintains a $340 price target, implying there could be a 40% upside with the firm arguing the company is still in the early stages of monetizing its broader platform and remains well-positioned as the most regulated and trusted crypto-native company in the U.S.
Goldman Sachs has echoed BofA’s sentiments. It has not only upgraded the crypto exchange company to Buy from Neutral but set a price target of $303 for its stock, which represents about 34% upside.
Get seen where it counts. Advertise in Cryptopolitan Research and reach crypto’s sharpest investors and builders.
