Wall Street Banks Take It Slow as $90 Trillion Perpetual Futures Market Opens in the U.S.

The crypto market’s most traded product—perpetual swaps—is finally arriving on U.S. regulated exchanges, but the biggest Wall Street institutions are staying away, according to the original CoinDesk report.

The sheer size of the global perpetuals market, with volumes estimated above $90 trillion, underscores the scale of the opportunity, yet traditional banks are worried about liquidity fragmentation, legal clarity, and the cost of building new trading infrastructure.

Crypto-native exchanges and nimble trading firms are not waiting. They are moving aggressively to capture retail and institutional demand, launching regulated perpetuals on U.S.-licensed platforms.

For them, this is the culmination of years of pushing for onshore futures that mirror the perpetual contracts that dominate offshore venues like Binance, Bybit, and OKX.