First Regulated Exchange by CFTC, Bitnomial,accepts Digital Asset Margin Trading
In the ever-evolving world of cryptocurrency, the past few months have seen significant developments in the derivatives market. Here's a round-up of some key events that have taken place.
U.S. Market Moves
On 21 July 2025, Coinbase Financial Markets opened its doors to U.S. customers, enabling them to trade CFTC-regulated nano bitcoin and nano ether perpetual futures. This move marked a significant step forward for the cryptocurrency derivatives market in the U.S.
Meanwhile, Bitnomial Exchange, designated as a contract market (DCM) by the US CFTC in 2020, received approval to accept digital assets as margin collateral, starting with bitcoin and ether. The exchange's perpetuals, which use an 8-hour funding interval and have a 25-year term, initially began trading for institutional participants. Retail traders will gain access to this service through Bitnomial's new retail trading platform, Botanical, from late September 2025.
Cboe Global Markets, another major player, announced plans to launch Cboe Continuous bitcoin and ether futures on 10 November 2025, pending regulatory review.
International Developments
Outside the U.S., EDXM International launched a perpetual futures exchange in Singapore on 23 July 2025, offering trading across 44 pairs, including bitcoin, ethereum, solana, and XRP. Despite the exchange's founder and CEO remaining unnamed in the provided search results, the launch marks a significant stride for the institutional crypto derivatives market.
LMAX Group, a global leader in FX trading, entered the crypto derivatives market on 17 September 2025, launching perpetual futures. The new contracts, which have a 10-year expiration and are cash-settled, are settled in US dollars and handle over $40 billion average daily spot FX and digital assets flow.
Implications for Traders
By using digital asset margin collateral, traders can deploy their digital asset holdings more efficiently, maintaining exposure while accessing leverage and hedging opportunities. This development is seen as a game-changer for traders who have been waiting for a compliant, efficient way to leverage their digital assets.
Perpetual futures account for approximately 90% of global crypto derivatives trading volumes, making them a crucial component of the cryptocurrency market. With these developments, it appears that the trend towards increased adoption of perpetual futures is set to continue.
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