Bybit Launches 24/7 Perpetual Contracts on U.S. Stocks and Global ETFs
Bybit launched 24/7 perpetual contracts on dozens of U.S. stocks and global exchange-traded funds on May 8, letting cryptocurrency traders hold leveraged equity positions outside conventional market hours. The product covers names including Circle Internet Group (CRCL), Micron Technology (MU), the Invesco QQQ Trust (QQQ), the iShares MSCI Japan ETF (EWJ), and the iShares MSCI South Korea ETF (EWY), according to a company release.
The move extends the exchange’s derivatives toolkit into traditional finance assets and lets users trade equity-linked exposure without converting out of the cryptocurrency ecosystem.
How the Product Works
Perpetual contracts, derivatives with no expiration date that traders use to take leveraged positions on asset prices, have long been the dominant product on cryptocurrency exchanges. Bybit’s TradFi version applies the same structure to stock and ETF prices.
Traders post cryptocurrency margin, take long or short positions against a price feed tracking the underlying equity, and hold the contract indefinitely. No share ownership occurs.
Settlement is in cryptocurrency, and positions remain open around the clock, including weekends and U.S. market holidays.
The exchange said the full product list covers dozens of tickers across U.S. large-cap stocks and international ETFs. Bybit did not disclose leverage limits, funding rate structures, or the price-feed providers used to track equity prices outside exchange hours.
Background
Bybit is one of the largest cryptocurrency derivatives exchanges by open interest, having grown its user base substantially after Binance faced regulatory restrictions in several jurisdictions in 2023 and 2024.
The exchange has operated primarily as a derivatives platform, competing directly with OKX and Bitget for offshore derivatives volume.
The TradFi perpetuals product is not the first attempt to bridge equity exposure into cryptocurrency trading. Several smaller platforms introduced synthetic stock products in 2021 before regulatory pressure from the SEC and CFTC forced most to delist.
Bybit’s renewed effort arrives as U.S. market structure legislation moves through the Senate, potentially clarifying whether crypto-margined equity derivatives fall under CFTC or SEC jurisdiction.
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What Comes Next
The regulatory question is unresolved. U.S. persons are generally restricted from using Bybit, and the platform does not serve verified American accounts.
The product’s immediate audience is traders in jurisdictions with looser derivatives rules. If the U.S.
Clarity Act passes in its current form, it could determine whether products like these ever reach American retail traders. Watch for competing launches from OKX and Bitget, which have each signaled interest in equity-linked perpetual products for 2026.
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