Robinhood and other crypto-linked stocks rose Friday following a landmark regulatory decision. The U.S. Commodity Futures Trading Commission approved the first regulated Bitcoin perpetual futures contract in the United States.
The agency granted the approval to exchange KalshiEX. Perpetual futures lack expiration dates and constitute a massive portion of the global crypto trading market.
U.S. traders previously could not access these derivatives on regulated domestic platforms. The CFTC also provided a path for firms like Coinbase to offer these products through registered intermediaries.
This shift allows U.S.-based crypto brokers to significantly expand their product offerings. It marks a pivotal moment for the domestic digital asset industry.