US onshore perpetual futures market is inning zero
The guest argued that the onshore US perpetual futures market is in its infancy, representing a massive, positive-sum growth opportunity as regulatory approvals bring the largest crypto trading product to US institutions and retail.
The argument
The guest noted that less than 0.5% of the US market has adopted perpetual futures. While platforms like Coinbase and Robinhood are positioning themselves, the regulatory framework allows onshore platforms to target institutional and retail users who avoid unregulated offshore platforms.
The thesis, stress-tested
✓ What validates it
- ✓Launch of perpetual offerings by Robinhood or Gemini
- ✓CFTC approval of 40.3 filings for non-crypto asset classes like stocks or commodities
▸ Risks discussed
- ▸Strict CFTC and SEC regulatory review processes for new asset classes
- ▸Competition from established offshore or non-KYC platforms like Hyperliquid
Hear it yourself
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