Bitcoin · Coinbase · U.S. · Bitcoin Magazine
CFTC Cracks Open U.S. Market for Bitcoin and Crypto Perpetual Futures
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The U.S. Commodity Futures Trading Commission has greenlit the first U.S.-listed bitcoin perpetual futures and opened the door for Coinbase to route American traders into global crypto derivatives markets.
Key facts
- Commission staff said they have observed growing interest in effectively 24/7 trading, driven in part by digital asset markets
- In practice, the combination of the Kalshi approval, the Coinbase no‑action position and the 24/7 advisory amounts to a blueprint for how U.S.‑regulated entities can plug into, and help domesticate
- Under Chair Selig and President Donald Trump, the CFTC has steadily pivoted from a posture of enforcement‑driven deterrence toward one of structured onshoring of key crypto market segments
- On Friday, the agency approved KalshiEX, LLC’s BTCPERP contract, a perpetual futures product that references the spot price of bitcoin and trades on Kalshi’s CFTC‑regulated designated contract market
Summary
The U.S. Commodity Futures Trading Commission (CFTC) has cleared the way for American traders to access one of crypto’s most important derivatives markets, approving the first true bitcoin perpetual futures contract on a U.S. exchange and issuing parallel relief that lets Coinbase route U.S. clients into global perp and options liquidity. On Friday, the agency approved KalshiEX, LLC’s BTCPERP contract, a perpetual futures product that references the spot price of bitcoin and trades on Kalshi’s CFTC‑regulated designated contract market.