Bitnomial Launches the First U.S.-Exchange Bitcoin Perpetual Futures
Bitnomial began trading BTC/USD perpetual futures on April 28, bringing the perpetual-futures structure into a CFTC-regulated U.S. exchange for the first time.
On April 28, 2025, Bitnomial began trading BTC/USD perpetual futures after self-certifying the contract with the Commodity Futures Trading Commission. Bitnomial described the contracts as the first perpetual futures ever listed on a U.S. exchange.
Perpetual futures had become one of the dominant trading instruments in offshore cryptocurrency markets because they provide leveraged exposure without a fixed expiration date. Bitnomial structured its U.S. product with recurring funding-rate mechanics designed to resemble the market structure traders already used offshore.
The launch brought a major piece of Bitcoin derivatives market structure into a U.S.-regulated exchange environment. Initial access was aimed at institutional participants, but the significance extended beyond the first customer group: a product class long associated with offshore venues had entered the domestic CFTC-regulated market.