Chicago-based crypto exchange Bitnomial has launched monthly futures contracts tied to Injective, creating the first US-regulated derivatives product for the Web3 financial ecosystem’s native token.
The contracts settle in INJ with monthly expiries, letting traders gain price exposure without holding the underlying asset. They can be margined in crypto or US dollars through Bitnomial’s clearinghouse.
The listing begins a six-month performance window that could support a spot exchange-traded fund under US Securities and Exchange Commission (SEC) listing rules. In July, Canary Capital filed for a staked INJ ETF, and the Cboe BZX Exchange submitted a corresponding rule change to the SEC.
Institutional clients can trade the new futures immediately; retail access is expected via Bitnomial’s Botanical platform in the coming weeks. Bitnomial also plans to add perpetual futures and options tied to INJ.
Injective is a Layer 1 blockchain built for financial applications, featuring an on-chain order book and cross-chain connectivity with networks including Ethereum and Solana.
Bitnomial operates a trading venue, clearinghouse and brokerage for crypto futures and options and is regulated by the Commodity Futures Trading Commission (CFTC). In January, the exchange launched monthly futures contracts tied to Aptos (APT), the first US-regulated derivatives product for that altcoin.
Exchanges push to expand US crypto futures offerings
US-regulated crypto futures have largely focused on major assets like Bitcoin and Ether, with Bitnomial one of the few venues listing altcoin derivatives. Expanding altcoin offerings has required navigating a shifting and often uncertain regulatory environment.
In August 2024, Bitnomial moved to list XRP futures through CFTC self-certification, but the SEC challenged the plan, arguing the contracts could require securities exchange registration. After filing a lawsuit in October 2025, Bitnomial dropped the case in March and later that month launched regulated XRP futures for US users, citing evolving SEC policy.
Other platforms have taken a more gradual approach. Coinbase launched CFTC-regulated futures tied to Bitcoin and Ether for institutional clients in June 2023, later expanding access with retail-sized contracts in May 2025 and introducing 24/7 trading to provide round-the-clock market access for US participants.
Also in May, Kraken acquired futures platform NinjaTrader for about $1.5 billion, gaining a CFTC-registered Futures Commission Merchant and expanding its reach into regulated derivatives markets.
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