First launched in 2016 by BitMEX, the crypto industry has popularised perpetual futures contracts in offshore markets with increasingly strong interest.
Bloomberg reported monthly volumes jumped from $35 billion in January 2018 to $6.4 trillion in May this year, according to CoinDesk Data.
However, this product did not arrive in the US until this summer, when Coinbase filed self-certifications for two perpetual futures contracts in June. And while the Commodity Futures Trading Commission did not object, the oversight agency also has not set any specific guidelines or rules for this novel product.