Crypto Perpetual Futures, Dominating 93% of Derivatives Volume, Gain Regulated US Access

Major financial institutions are rapidly expanding their offerings to include crypto perpetual futures, signaling a significant shift towards regulated derivatives trading in the digital asset space. This move, highlighted by upcoming launches from Coinbase and CME Group, reflects growing market maturity and a response to overwhelming demand for these non-expiring contracts. The trend confirms observations from market commentators, including a recent tweet from "Steven" stating, > "Seems increasingly clear all the forward-looking brokerages are gonna go live with crypto perps very soon."

Perpetual futures, also known as perpetual swaps, are derivative contracts that allow traders to speculate on the price of an asset without a set expiration date, unlike traditional futures. They maintain alignment with the underlying asset's spot price through a unique funding rate mechanism. These instruments have become the dominant force in cryptocurrency derivatives, accounting for an estimated 93% of all crypto derivatives trading volume globally.

Coinbase, a leading cryptocurrency exchange, is set to launch its "US Perpetual-Style Futures" on July 21, 2025. These contracts, which will initially include nano Bitcoin (0.01 BTC) and nano Ether (0.10 ETH), are designed to be fully compliant with Commodity Futures Trading Commission (CFTC) regulations. Coinbase CEO Brian Armstrong confirmed the development on social media, stating, "Perpetual-style crypto futures are coming to the US on July 21. Starting with $BTC and $ETH. No quarterly expiration, available 24/7, with spot price tracking. Fully CFTC compliant."

Similarly, CME Group, a major derivatives marketplace, plans to introduce "Spot-Quoted futures" on June 30, 2025, pending regulatory review. These new contracts for Bitcoin and Ether will allow investors to trade futures positions in spot-market terms with extended holding periods of up to five years without rolling requirements, offering features similar to perpetual contracts. Prominent industry players like Interactive Brokers and NinjaTrader have expressed support for this initiative, underscoring its potential impact on retail investors.

Beyond the United States, major platforms are also expanding their perpetual futures offerings within regulated frameworks. Kraken has launched Europe's largest regulated futures offering, including perpetual contracts, under MiFID II. Additionally, One Trading has introduced EU onshore regulated perpetual futures for retail investors in select European countries. The broader financial infrastructure is also adapting, with firms like B2Broker integrating perpetual futures support into their trading platforms, enabling more brokers to offer these products. This widespread adoption by regulated entities marks a pivotal moment for the integration of digital assets into mainstream finance, addressing previous regulatory gaps and providing more secure avenues for crypto derivatives trading.