Coinbase Expands Ethereum-Based Asset Support: Spark, Ethena, and Tokenized Stocks

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Coinbase, one of the world’s leading cryptocurrency exchanges, has announced the addition of several new Ethereum-based digital assets to its platform, signaling a strategic expansion in both retail and institutional offerings. This latest move reinforces the exchange’s commitment to broadening access to innovative crypto assets while exploring new frontiers like blockchain-based equities.

New Ethereum-Based Tokens Now Live on Coinbase

Coinbase recently confirmed the listing of Spark (SPK), an Ethereum-based token, now available for trading across its ecosystem—including the main Coinbase platform and its iOS and Android mobile applications. The token is currently labeled as “experimental,” indicating it's in an early phase of integration with limited functionality or higher risk considerations.

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In addition to spot trading, Coinbase plans to support Spark perpetual futures (SPK-PERP) on both Coinbase International Exchange and Coinbase Advanced Trading. The SPK-PERP market is scheduled to go live on June 19, 2025, at 09:30 UTC or shortly thereafter, offering advanced traders leveraged exposure to this emerging asset.

This expansion aligns with Coinbase’s broader strategy to integrate more ERC-20 tokens—digital assets built on the Ethereum blockchain—into its growing portfolio. Earlier this month, the platform added support for other notable Ethereum-based tokens, including:

Among these, Ethena (ENA) is already fully accessible through Coinbase’s mobile apps, allowing users to buy, sell, convert, send, receive, and store the asset seamlessly. Ethena has gained attention for its synthetic dollar-backed yield mechanism, making it a popular choice among yield-seeking investors.

Expanding Derivatives Offerings: Resolv Perpetual Contracts

Alongside Spark futures, Coinbase also announced upcoming support for Resolv perpetual contracts (RESOLV-PERP) on its international and advanced trading platforms. The RESOLV-PERP market will open at the same time as SPK-PERP—June 19, 2025, 09:30 UTC—providing traders with additional tools to hedge or speculate on price movements.

These derivative products cater primarily to sophisticated investors and institutions looking for flexible risk management solutions in volatile markets. By expanding its suite of perpetual futures, Coinbase strengthens its position as a competitive player in the global crypto derivatives space.

Coinbase’s Push Into Tokenized Stocks

Beyond cryptocurrencies, Coinbase is actively exploring regulated financial innovation. According to a recent report by Reuters, the company is seeking approval from the U.S. Securities and Exchange Commission (SEC) to offer tokenized stocks—a groundbreaking development that could bridge traditional finance and blockchain technology.

Tokenized stocks are digital representations of real company shares, recorded and traded on a blockchain. While investors don’t directly own the underlying security, they hold tokens that mirror the value and rights of actual equities. This model enables faster settlement, fractional ownership, and 24/7 trading—features absent in traditional stock markets.

Paul Grewal, Coinbase’s Chief Legal Officer, emphasized the significance of this initiative, noting that tokenized stocks are currently not legally tradable in the United States. Regulatory clarity and approval would be essential before any launch.

If greenlit by the SEC, this service would allow Coinbase to compete directly with established retail brokers like Robinhood and Charles Schwab, but with a technological edge powered by decentralized infrastructure. It could also open up a major new revenue stream through equity trading fees and custody services.

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Why Tokenized Stocks Matter

Tokenization brings several transformative benefits:

While still in regulatory review, this initiative underscores Coinbase’s ambition to become a full-stack financial platform—not just for crypto, but for all digital assets.

Frequently Asked Questions (FAQ)

What is Spark (SPK), and why is it labeled “experimental”?

Spark (SPK) is an Ethereum-based token integrated into Coinbase with an "experimental" tag, meaning it may carry higher risks or have limited functionality during initial availability. This label helps inform users about potential volatility or unproven use cases.

When will SPK-PERP and RESOLV-PERP markets open?

Both perpetual futures markets—SPK-PERP and RESOLV-PERP—are set to launch on June 19, 2025, at 09:30 UTC or shortly after, available via Coinbase International Exchange and Coinbase Advanced Trading.

Can I trade Ethena (ENA) on mobile?

Yes. Ethena (ENA), along with CAKE and LA, is supported on Coinbase’s iOS and Android apps. You can buy, sell, convert, send, receive, and store ENA directly from your mobile device.

What are tokenized stocks?

Tokenized stocks are blockchain-based digital tokens that represent ownership in real company shares. They mirror the value of traditional equities but offer faster settlement, fractional buying, and continuous trading.

Is Coinbase already offering tokenized stocks?

No. Coinbase is currently seeking SEC approval to offer tokenized stocks in the U.S. The service is not yet live and remains under regulatory review.

Are ERC-20 tokens safe to trade on Coinbase?

ERC-20 tokens listed on Coinbase undergo a rigorous evaluation process for security, compliance, and liquidity. However, all crypto investments carry market risk, so users should conduct their own research before trading.

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Core Keywords

Coinbase’s recent expansions highlight a clear trajectory: integrating cutting-edge blockchain assets while pushing the boundaries of regulated financial services. As Ethereum continues to power innovation through smart contracts and decentralized applications, platforms like Coinbase play a crucial role in bringing these technologies to mainstream users—safely, securely, and compliantly.