Kalshi Files for Perpetual Futures on Multiple Altcoins Following CFTC Approval
- Kalshi has applied to the CFTC to launch perpetual futures for twelve altcoins, including Ethereum (ETH), XRP, and Dogecoin (DOGE).
- The application follows the CFTC’s recent approval of Bitcoin perpetual futures trading on the platform.
- Total open interest for XRP contracts across exchanges reached $2.96 billion, marking a four-month high.
- Despite this interest, XRP’s price is currently $1.27, down by approximately 4% in the last day.
- Other altcoins like Stellar (XLM) and Hedera (HBAR) are experiencing mixed trading activity, with XLM down over 12% after a recent rally.
Kalshi’s move to introduce perpetual futures for various altcoins highlights its growing involvement in the cryptocurrency market amid favorable regulatory changes from the CFTC. The commission will evaluate future applications on a case-by-case basis due to the unique characteristics of each asset.
With XRP contracts showing significant open interest despite price declines, Kalshi’s plans could further influence market dynamics as it competes with platforms like Binance and Coinbase. (Source)
