Updated

Updated · reports.tiger-research.com · Jun 18

CFTC Approves First US Bitcoin Perpetual Futures as $61.7 Trillion Offshore Market Beckons

Updated

Updated · reports.tiger-research.com · Jun 18

CFTC Approves First US Bitcoin Perpetual Futures as $61.7 Trillion Offshore Market Beckons

Q: What key regulatory change finally convinced Wall Street that blockchain is ready for mainstream finance?

The decisive shift was U.S. regulatory clarity around stablecoins and crypto asset classification, led by the GENIUS Act and reinforced by the SEC-CFTC commodity rulings in March 2026. The GENIUS Act mattered because it gave stablecoins a clear legal status inside the U.S. financial system. By defining payment stablecoins and setting a prudential framework for issuance, reserves, custody, and compliance, it removed one of Wall Street’s biggest concerns: whether the core settlement asset for on-chain finance would later be treated as an unregistered security or operate in a legal gray zone. For banks and asset managers, that made blockchain-based settlement look usable rather than experimental. The second key step was the SEC and CFTC jointly classifying 16 assets, including Solana, as digital commodities in March 2026. That sharply reduced the long-running uncertainty over whether major tokens would fall under securities law. Institutions could then model compliance, custody, trading, and disclosure with far more confidence. Other changes helped, especially the repeal of SAB 121, which made bank crypto custody more practical, and Nasdaq’s approval to trade tokenized securities. But the turning point was the combination of stablecoin legislation and federal market classification. Together, they gave Wall Street what it had lacked for years: a credible legal foundation for using blockchain in mainstream finance.

3 articles · Updated · reports.tiger-research.com · Jun 18

Bitcoin perpetual futures won CFTC approval on a US regulated exchange for the first time, opening a path for products long concentrated on offshore crypto venues.
Kalshi received approval for its BTCPERP contract on May 29, 2026, and Coinbase got a same-day no-action letter covering a perpetual-futures product.
The move targets an offshore market worth about $61.7 trillion a year as of 2025, dominated by exchanges such as Binance and Bybit outside US registration.
Whether volume shifts materially to the US is still unclear because offshore rivals offer entrenched liquidity, fee structures and leverage terms that may remain more attractive to traders.
The approval fits a broader US push to formalize crypto market structure, alongside stablecoin legislation and March 2026 guidance classifying 16 assets, including Solana, as digital commodities.

Sources

Left100%

reports.tiger-research.com9h ago

CFTC Approves First-Ever Bitcoin Perpetual Futures Trading on US Regulated Exchange

CNBC9h ago

CME CEO Terrence Duffy says the exchange operator will sue CFTC over perpetual futures

Cryptopolitan13h ago

Legal battle brews as CME targets CFTC's perpetual futures ruling - Cryptopolitan

11 Sources

What key regulatory change finally convinced Wall Street that blockchain is ready for mainstream finance?

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CFTC Greenlights U.S. Bitcoin Perpetual Futures, Opening $61.7 Trillion Market to Domestic Investors

Overview

On May 29, 2026, the U.S. Commodity Futures Trading Commission (CFTC) approved the first U.S.-listed bitcoin perpetual futures contract for KalshiEX LLC, marking a dramatic shift in U.S. policy toward crypto derivatives. This move brought a market segment long dominated by offshore trading under U.S. regulatory oversight. By establishing a foundational policy framework, the CFTC signaled a clear intent to integrate global crypto markets within its regulatory perimeter. This decision not only opens new opportunities for U.S. investors but also sets the stage for future listings and greater market stability.

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