The Commodity Futures Trading Commission has approved the first listing of perpetual futures contracts tied to individual equities, allowing the products to begin trading on designated contract markets that also have SEC approval to operate as notice-registered national securities exchanges and offer security futures products.
CFTC Chair Michael Selig said the approval builds on the earlier clearance of regulated crypto perpetuals in the U.S. and reaffirmed plans to keep onboarding offshore derivative products.
What the Approval Covers
The regulator said perpetual futures on individual stocks can trade for the first time on qualifying designated contract markets. The approval follows the CFTC’s earlier approval of the first Bitcoin perpetual contracts this year, alongside other regulated U.S. crypto derivative products.
“Today’s announcement builds on that milestone by extending the availability of the perpetual futures contract instrument in the U.S. beyond digital commodities and into traditional securities,” Selig said.
Selig also said onboarding these derivative products in the U.S. helps protect American investors from using offshore platforms. The commission is also moving to onboard offshore derivatives platforms such as Hyperliquid.
Crypto Precedent and Offshore Push
President Donald Trump confirmed the development during a meeting with the CFTC and SEC chairs and crypto stakeholders, according to the report. Separately, NYSE parent ICE recently announced plans to integrate 24/7 Hyperliquid perpetuals for equities, stocks and commodities.
The CFTC’s push to approve perpetual contracts across asset classes has drawn some opposition. The Commodity Markets Council recently urged the regulator to deny Kalshi’s request to offer oil perpetual contracts.
Broader Integration With Traditional Finance
Despite that pushback, the CFTC and SEC continue to advance the integration of decentralized finance into traditional finance. The SEC has released “Innovation Exemption” guidance that enables exchanges to offer tokenized stock trading.
The CFTC has also proposed a framework for crypto trading and transactions, pending passage of the CLARITY Act.
