Crypto Leverage Trading In The US May Become More Accessible: Here’s Why – Coinbase Global (NASDAQ:COIN)

Perpetual futures contracts, a dominant force in global cryptocurrency trading, may soon become available to U.S. investors as the regulatory landscape evolves under President Donald Trump‘s administration.

What Happened: These high-risk instruments, central to offshore crypto activity, have long been inaccessible to US retail investors due to regulatory constraints.

However, legal and structural changes under the current administration have raised expectations that this could change. “We are definitely moving in the direction of crypto-based derivatives being made available in the U.S.,” Bloomberg reported, quoting Gabe Rosenberg, partner at Davis Polk & Wardwell. “It’s really just a matter of time.”

Perpetual contracts—or “perps”—allow traders to bet on cryptocurrency prices with leverage as high as 100x, without needing to own the underlying asset.

Unlike traditional futures, they don’t expire and instead adjust every eight hours to match spot market prices.

Their popularity stems from this flexibility and ease of use, which has made them a cornerstone of global crypto trading.

First introduced by BitMEX in 2016, perps now account for most of the trading volume on platforms like Binance, which often sees daily perp volumes exceed $70 billion—dwarfing the spot market.

“Perps have really been the heart and soul of the crypto market,” said Adam McCarthy, analyst at Kaiko.

Recent developments reflect this momentum.

Coinbase Inc. COIN has announced plans to introduce a first-of-its-kind perpetual-style product in the US, and Kraken has agreed to acquire futures platform NinjaTrader for $1.5 billion.

Meanwhile, Coinbase is reportedly in talks to acquire Deribit, a crypto derivatives exchange.

Also Read: Stablecoins Are Doing For Money What WhatsApp Did For Messaging, Crypto Venture Capitalist Says

Why It Matters: Perpetuals are already widely used outside the U.S. by both retail traders and institutions using offshore access.

But expanding them into the regulated US environment could boost adoption further and attract new investor flows. “It’s more about unlocking new markets and fresh participation,” said Chris Newhouse of Cumberland Labs.

Still, the path ahead may require regulatory clarity.

While institutional players can legally engage in swaps, Bitcoin’s treatment in margin and eligibility rules remains a gray area. “Legislation would certainly help settle remaining concerns,” said Rosenberg.

As the crypto-friendly regulatory climate evolves, many see the potential US rollout of perps as the next significant step in expanding access to the instruments that have long shaped global digital asset markets.

Read Next:

Image: Shutterstock