Kalshi, Coinbase, and Bitnomial pushed “US stock perpetuals” forward on the same day, and market sentiment heated up first.
Kalshi has filed rule changes with the SEC and applied to the CFTC for approval to launch perpetual futures linked to individual US stocks; Coinbase has also submitted a similar application. Kraken’s parent company, Payward, submitted related proposals through the Bitnomial Exchange. According to the disclosures, these contracts have no pre-set expiration date. Instead, the funding rate is used to keep the price closely aligned with the underlying stock, and Kalshi Klear handles clearing.
If the process moves smoothly, the CFTC/SEC-regulated leveraged-trading product categories could become even more diverse, and compliant derivatives platforms as well as crypto-finance infrastructure stocks like Coinbase (COIN) may continue to attract more attention. However, before approval is finalized, it’s more like an expectation-of-approval trade rather than pricing for a product that’s already live. According to SEC filings, the relevant rules are planned to take effect on either November 2 or a later date after CFTC approval; as of now, CFTC approval has not yet been obtained. Are you more focused on the approval progress, or more interested in which end of the market this kind of product will boost first?
Caption 1: Kalshi and Coinbase race to launch US stock perpetual contracts · Source page partial screenshot
Image source: https://www.wublock123.com/news/kalshi-files-us-stock-perpetuals-coinbase-bitnomial-similar-proposals-68689
Kalshi has filed rule changes with the SEC and applied to the CFTC for approval to launch perpetual futures linked to individual US stocks; Coinbase has also submitted a similar application. Kraken’s parent company, Payward, submitted related proposals through the Bitnomial Exchange. According to the disclosures, these contracts have no pre-set expiration date. Instead, the funding rate is used to keep the price closely aligned with the underlying stock, and Kalshi Klear handles clearing.
If the process moves smoothly, the CFTC/SEC-regulated leveraged-trading product categories could become even more diverse, and compliant derivatives platforms as well as crypto-finance infrastructure stocks like Coinbase (COIN) may continue to attract more attention. However, before approval is finalized, it’s more like an expectation-of-approval trade rather than pricing for a product that’s already live. According to SEC filings, the relevant rules are planned to take effect on either November 2 or a later date after CFTC approval; as of now, CFTC approval has not yet been obtained. Are you more focused on the approval progress, or more interested in which end of the market this kind of product will boost first?
Caption 1: Kalshi and Coinbase race to launch US stock perpetual contracts · Source page partial screenshot
Image source: https://www.wublock123.com/news/kalshi-files-us-stock-perpetuals-coinbase-bitnomial-similar-proposals-68689
