CFTC Explores 24/7 Crypto Derivatives and Perpetual Trading

The U.S. Commodity Futures Trading Commission (CFTC) is reviewing proposals for round-the-clock trading of derivatives. However, so far, all suggestions have focused only on crypto products, not traditional commodities.

Acting CFTC Commissioner Caroline Pham stated that 24/7 trading can enable market participants to respond immediately to unpredictable situations over the weekend. A continuous trading schedule can enable risk managers to respond quickly to abrupt changes, avoiding delay and losses.

Coinbase Derivatives just introduced 24/7 Bitcoin futures , and already it’s experiencing robust participation. Trading activity over the weekends is on par with weekdays, with more than 1,000 traders and hundreds of thousands of contracts transacted. This indicates that there’s genuine demand for 24-hour access in crypto markets. The CFTC is also looking into leveraging tokenized assets and stablecoins as collateral. This would assist in minimizing credit risk in non-stop trading environments.

Pham also pointed to some of the uncertainty surrounding perpetual futures—crypto derivatives with no maturity date. She verified that these already trade in the U.S., with Bitnomial introducing Bitcoin perpetual futures in April 2025.

A few players in the industry desire additional crypto perpetuals governed by U.S. standards to cut costs and enhance efficiency. Others worry that these products may not be well-suited for physical commodities due to their risks and absence of price convergence.