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The Polylog Crypto Intelligence Brief

Morning Edition · Saturday, June 27, 2026

US Crypto Perpetual Futures Go Live, but Liquidity Favors Bitcoin Alone

A broad board of markets is now visible, yet depth and spreads may leave most traders confined to a single contract.

US Crypto Perpetual Futures Go Live, but Liquidity Favors Bitcoin Alone

Perpetual futures, the open-ended leveraged contracts that dominate crypto trading abroad, are now available in the United States through regulated venues. The practical reality is narrower than the listing suggests. As one analysis put it,…

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Perpetual Futures Approval Sparks US Market-Structure Turf Fight

Over the coming months, the arrival of CFTC-cleared crypto perpetual futures triggers legal and jurisdictional battles over how these instruments are classified and which process governs them in the US.