Chicago-based crypto exchange Bitnomial has launched the first US-regulated futures contracts tied to Tezos’s XTZ token on a Commodity Futures Trading Commission-supervised exchange.
The futures, which went live on Wednesday, allow both institutional and retail traders to gain exposure to XTZ price movements using either cryptocurrency or US dollars as margin.
“CFTC-regulated futures market with six months of trading history checks a key box under the SEC's generic listing standards for spot ETFs,”
Said Bitnomial president Michael Dunn.
The listing follows Bitnomial’s recent launch of Aptos futures and reflects the exchange’s strategy to expand US-regulated crypto derivatives beyond bitcoin and ether.
Bitnomial has previously introduced regulated futures for assets including Cardano, XRP and Aptos, placing it among a small group of venues offering altcoin derivatives under US oversight.
The exchange’s expansion has faced regulatory resistance in the past, including objections from the Securities and Exchange Commission to XRP futures before Bitnomial ultimately launched the product in March.
Tezos, which launched its mainnet in 2018 after a $232 million initial coin offering, has since positioned itself as a proof-of-stake blockchain with onchain governance and recently implemented its Tallinn upgrade to cut block times to six seconds.
At the time of reporting, Tezos price was $0.4681.