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From Major Firms Expand Perpetual Futures, Signaling Shift to 24/7 Trading

How could the expansion of perpetual futures trading affect Bakkt?

Possible What happens if… A possibility worth considering, not a forecast.

Increased demand for derivatives infrastructure may boost Bakkt's business. The growing trend of perpetual futures, which allow investors to speculate on asset prices without owning them, is driving a demand for round-the-clock trading access. As these contracts move beyond crypto to include traditional assets like single stocks and commodities, the need for robust, always-on derivatives infrastructure increases. Bakkt, as a spot market for crypto currency and derivatives, is positioned to benefit from this structural shift toward continuous, institutional-grade trading environments.

Reported by 1 independent outlet Written Oct 9
Effect
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How it reaches Bakkt

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The facts so far

As reported. Each one links to where it comes from.

  • Perpetual futures allow investors to bet on an asset's price without owning it directly.businessinsider.com
  • Perps are seen as a structural engine for 24/7 trading.businessinsider.com
  • Trade [XYZ] was given exclusive permission from S&P Dow Jones Indices to offer trading of perps referencing the S&P 500 on Singapore-based exchange Hyperliquid.businessinsider.com
  • During the Iran conflict, perpetual contracts referencing oil, listed on Hyperliquid, saw a surge in activity.businessinsider.com

Why it matters

The expansion of perpetual futures signals a major structural shift in how investors access and trade assets, moving away from traditional weekday market hours toward continuous, always-on trading. For derivatives providers like Bakkt, this trend represents a significant opportunity to capture market share in the growing intersection of digital assets and traditional finance.

This movement is supported by industry experts who note that perps are crucial for price discovery, meaning that the first reaction to a major geopolitical event often happens on venues that are open while others are closed. This demand for sophisticated, continuous infrastructure is what makes the trend relevant for the entire derivatives market.

What we don't know yet

  • Will regulatory bodies approve the expansion of perps to more traditional assets in the US?
  • How quickly will major exchanges adopt institutional-grade rules for these new derivatives products?

What would change this answer

The Commodity Futures Trading Commission brings Hyperliquid to the USThis would vastly expand options for onshore traders and accelerate the adoption of perps for single stocks and commodities, increasing demand for derivatives infrastructure.
Regulators impose strict limitations on leverage in perpetual futuresThis could curb the speculative appeal of perps, slowing the structural shift toward always-on trading and dampening demand for related infrastructure.

— Other considerations

Beyond this explainer

Questions worth asking

Ideas the web ties closely to this story that the explainer doesn't mention. These are prompts for your own research: Brind hasn't answered them.

  • About S&P Global Platts

    How might the shift toward continuous, 24/7 trading affect the reliance on traditional commodity pricing services like S&P Global Platts?

  • About Petrochemicals

    Given that perpetual contracts referencing oil saw a surge during the Iran conflict, how might the expansion of perps affect the trading of petrochemicals?

  • About Bloomberg FactSet

    If Bakkt is building continuous, institutional-grade infrastructure, how might its data feeds compare to those provided by Bloomberg or FactSet?

Explore connected ideas

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Who else could feel it

Other possible ripples from the same event.

Reporting

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The full eventMajor Firms Expand Perpetual Futures, Signaling Shift to 24/7 Trading Everything aboutBakkt

Brind's analysis is written by AI from the reporting linked above and can be wrong. This explainer is a possibility worth considering, not a forecast: steps marked as Brind's reasoning are not stated in the reporting. It is not investment advice; do your own research.