U.S. derivatives exchange Bitnomial has launched an Aptos (APT) futures product, expanding the regulated crypto derivatives market, The Block reported on Tuesday.
Aptos derivatives had previously been tradable only on overseas exchanges such as Bitget and Binance, but the launch allows U.S. institutional and retail investors to trade legally.
Bitnomial Chairman Michael Dunn said, "A regulated futures market will also have a positive impact on SEC approvals of spot crypto ETFs." The SEC is expanding approvals of bitcoin and ethereum ETFs, The Block reported.
Bitnomial is a Chicago-based exchange founded in 2014 and has previously introduced XRP and Solana futures. The new Aptos futures contracts expire monthly and are settled in dollars or APT. Investors can use cryptocurrency or dollars as margin through the Bitnomial clearinghouse. APT perpetual futures and options products are also set to be launched later.
Aptos Labs Chief Business Officer Solomon Tesfaye said, "Bitnomial's CFTC-regulated exchange and clearinghouse provide an environment where institutional investors can access Aptos safely."
Chi-gyu Hwang
delight@d-today.co.kr