CFTC Approves First Regulated Bitcoin Perpetual Futures in US

The US Commodity Futures Trading Commission (CFTC) has made a significant move in the world of cryptocurrency by approving the listing of Bitcoin perpetual futures on KalshiEX. This marks the first time such contracts have been allowed in the United States, bringing a long-awaited opportunity for institutional investors to trade in this highly liquid market.

The CFTC's approval allows KalshiEX to list the BTCPERP contract, which is a no-expiry futures product tied directly to the spot price of Bitcoin. This type of contract uses periodic funding payments exchanged between buyers and sellers based on the gap between the contract's trading price and Bitcoin's reference price.

The approval sets a regulatory template for other exchanges seeking to list similar products, providing a clear path forward for those looking to bring crypto perpetuals onshore. For institutional investors, this development opens up new trading opportunities that were previously unavailable in the US market.