🇺🇸 The CFTC has just approved the first regulated Bitcoin perpetual futures contract in the US, marking a major milestone in the process of integrating crypto into the traditional financial system. Unlike conventional Futures Contract , perpetual futures have no expiration date, allowing traders to hold positions indefinitely and utilize a funding rate mechanism to keep the contract price closely tracking the spot price of Bitcoin. For many years, the majority of Bitcoin perpetual futures trading took place on offshore exchanges such as Binance, Bybit , and Hyperliquid. Now, US-licensed platforms like Kalshi and Coinbase can offer similar products under regulatory oversight, providing more layers of protection and transparency for investors. This is XEM as a significant change as the US is gradually bringing a market with a volume of over $90 trillion annually back from offshore exchanges into its domestically regulated financial system. If Bitcoin Spot ETFs were the gateway for traditional capital flows into Bitcoin, then US-regulated Bitcoin perpetual futures could be the gateway bringing massive leveraged crypto trading closer to Wall Street.