BitMEX launches U.S. stock perpetual futures… Tokenized securities market competition accelerates
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Summary
- BitMEX reportedly entered competition in the tokenized securities market by launching U.S. stock and index perpetual futures products.
- The products can use virtual assets such as Bitcoin and Ethereum as margin and are tradable 24 hours without expiry.
- However, controversy over regulatory gaps remains, and the market is noting the potential for tokenized securities to grow into an independent market pillar in the future.
Virtual asset (cryptocurrency) derivatives exchange BitMEX has entered the competition in the tokenized securities market by launching perpetual futures products based on U.S. stocks and stock indices as underlying assets.
On the 6th, according to crypto-focused media Cointelegraph, BitMEX opened trading for "Equity Perps" linked to Apple, Tesla, NVIDIA, as well as the S&P 500 and the Nasdaq indices. These products are designed to allow 24-hour trading using virtual assets such as Bitcoin and Ethereum as margin.
This product is characterized by applying the perpetual futures method with a funding fee structure and no expiry to the stock market. It is differentiated by removing the trading hour constraints of traditional stock markets and providing stock exposure in a manner similar to crypto derivatives.
BitMEX's move coincides with a rapid expansion in on-chain demand for stock trading. Recently, trading volumes related to tokenized stocks have surged in a short period on some crypto exchanges, and attempts to trade stocks, indices, and commodities on a blockchain basis are continuing.
Industry observers analyze that this trend is driven by demand from individual investors in regions with limited access to U.S. stocks and from investors who prefer leveraged trading while holding crypto assets. In fact, there is an assessment that younger investors, in particular, are showing a clear preference for trading structures that are more flexible than traditional stock markets.
However, controversy remains over regulatory gaps for stock-linked perpetual futures and tokenized securities. Regulators in various countries are taking a cautious stance regarding investor protection, ownership structures, and the applicability of existing securities laws. BitMEX said it adopted a cash-settlement structure rather than physical stocks to reduce regulatory complexity.
The outlet reported, "The market is noting that as stocks, indices, and commodities evolve toward liquidity and accessibility similar to crypto assets, tokenized securities could become an independent market pillar in the future."
