CFTC's Summer Mersinger says crypto perpetual futures trading could come to US: Bloomberg
Quick Take Mersinger is stepping down from the CFTC on May 30 to become CEO of the Blockchain Association.
Commodity Futures Trading Commissioner Summer Mersinger said Thursday that crypto perpetual futures could soon begin trading in the United States.
"I think those can come to market now," Mersinger said on Bloomberg TV . "I believe we'll have some of those products trading live very soon. It would be great to get that trading back onshore in the United States."
Also known as perpetual swaps, crypto perpetual futures are derivative contracts that allow traders to speculate on the price of a cryptocurrency without an expiration date.
Futures trading across all cryptocurrencies generated nearly $3.7 trillion in volume last month, according to The Block's Data Dashboard.
Mersinger is stepping down from the CFTC on May 30 to become CEO of the Blockchain Association, the crypto industry’s primary lobbying group in Washington. Of note, she previously encouraged the CFTC and the U.S. Securities and Exchange Commission to work together to create a regulatory framework for digital assets.
"Mersinger was nominated by former President Joe Biden to fill a Republican seat at the CFTC and was sworn in in March 2022," The Block's Sarah Wynn previously reported. "During her time at the agency, Mersinger spoke about cryptocurrency's popularity and said it was no longer a fad following interest from traditional finance."
The CFTC has four vacancies that will need to be filled following the departures of several commissioners in recent days.
Layer 1 blockchain Hyperliquid is built for DeFi applications, with a focus on perpetual futures trading. Its core technical architecture consists of an onchain order book and native perpetual futures trading functionality built directly into the base layer.
Shares of Hyperliquid's native token spiked on the Bloomberg headline, with HYPE trading higher by 18% at publication time, according to The Block's price data .
Updated at 1:30 p.m. ET to include comments from Mesinger and the price action in HYPE.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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