Bybit Expands TradFi Perpetuals to Cover U.S. Stocks and Global ETFs
Bybit expanded its TradFi perpetual contract suite on May 13 to cover dozens of U.S. equities and global exchange-traded funds, giving cryptocurrency traders leveraged exposure to stocks including NVDA, TSLA, META, MSFT, AAPL, GOOGL, ORCL, INTC and chipmaker TSM, all from a single account. The exchange published a PR Newswire release detailing the expansion on May 13.
What Bybit Is Offering
Perpetual contracts are derivatives with no expiration date that traders use to take leveraged long or short positions on an underlying asset’s price without holding the asset itself.
Bybit’s TradFi perpetuals apply that same structure to equity and ETF prices, meaning a trader can go long on Microsoft (MSFT) using cryptocurrency as collateral rather than opening a brokerage account. The expansion covers four broad sectors: semiconductors (TSM, NVDA, MU), broad technology (TSLA, SNDK, META, GOOGL, MSFT, ORCL, AAPL, INTC), digital assets, and a new category of global ETFs.
Bybit did not disclose specific ETF tickers in the Chinese-language release, but the company said coverage spans international markets across multiple regions.
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Background
Bybit launched an earlier version of its TradFi perpetuals product in late 2024, initially focusing on a handful of U.S. megacap stocks. The May 13 expansion is the most significant update to that product line and brings the total coverage to what the company calls “dozens” of instruments.
Bybit operates outside the United States and does not hold broker-dealer or securities-dealer licenses in most Western jurisdictions. The exchange serves users primarily in Asia, the Middle East, and Europe through entity structures in Dubai and other offshore hubs.
Offering synthetic equity exposure through perpetual contracts allows Bybit to sidestep the direct securities licensing that regulated exchanges in the U.S. and EU require for stock trading.
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What to Watch
Regulatory scrutiny of crypto exchanges offering equity-linked derivatives has grown in the past 18 months. The SEC and CFTC have each signaled interest in products that replicate securities exposure without triggering U.S. registration requirements.
Bybit will face questions about whether its global ETF perpetuals qualify as security-based swaps under U.S. law. The exchange has not issued guidance on which jurisdictions are blocked from accessing the new instruments.
User uptake on NVDA and TSLA perpetuals in the first 48 hours will be the clearest measure of commercial traction.
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