The Commodity Futures Trading Commission approved the first US-regulated bitcoin perpetual futures contract on Friday. KalshiEX LLC received permission to list BTCPERP, a cash-settled contract with no expiration date. The agency also issued guidance allowing Coinbase Financial Markets to route US customers to certain Deribit products.
The CFTC order permits Kalshi to offer the BTCPERP contract tied to the CF Benchmarks Bitcoin Real Time Index. The contract trades in units of one ten-thousandth of a bitcoin and operates 24 hours a day, seven days a week, subject to halts. It relies on periodic funding payments to keep the price aligned with the spot market.
