Crypto.com is joining a growing push to bring single-stock perpetuals into the U.S. market. Coinbase and Kalshi are pursuing similar products.
The price of Cronos (CRO) rose about 6% this Friday after Crypto.com’s CEO Kris Marszalek announced the company has filed with the CFTC to list equity perpetuals in the United States.
“Next step unlocked: We’ve officially filed with the CFTC for equity perps in the US, following our Form 1-N acknowledgement by the SEC last week. Bridging digital asset innovation with US capital markets is happening in real time. Brick by brick,” Marszalek wrote on X.
Two Regulators, Two Filings
An equity perpetual is a futures contract on a stock with no expiry date. In the US, such a contract sits with both market regulators, so Crypto.com needs the SEC and the CFTC.
Nadex, the Chicago exchange Crypto.com runs as Crypto.com Derivatives North America, and OG.com filed a Form 1-N on September 14. The SEC acknowledged it on September 16. That notice registers Nadex as a securities exchange for the sole purpose of trading security futures, effective the day it was filed.
The form lists ten stocks Nadex plans to start with, such as Apple, AMD, Amazon, Alphabet, Meta, Microsoft, Micron, Nvidia, Tesla and SpaceX. Those ten are ordinary cash-settled futures with an expiry date.
Perpetual versions of those futures need the CFTC as well, under a policy the agency set on May 29. It says perpetuals on equities should go through the CFTC’s case-by-case approval process.
Similarly, Coinbase filed its own Form 1-N for single-stock perpetuals on September 1, then Kalshi followed suit seeking CFTC approval.
Third Crypto.com Catalyst This Month
CRO has had a run of Crypto.com news since it fell below $0.05 on August 7 (its lowest since October 2023) when Trump Media recently cancelled two deals with the exchange.
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The token climbed from $0.057 to $0.063 on September 8, when Robinhood took stakes in Crypto.com and OG.com. Those deals valued Crypto.com at $20 billion and OG.com at $5 billion. Then came the SEC acknowledgment last week and Thursday’s CFTC filing.
CRO is up 9% over seven days and 13% monthly, per CoinGecko. It still sits about 93% below its November 2021 record.
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