BitMEX has launched a new product called Equity Perps, offering 24/7 access to major U.S. stocks using crypto as collateral.
Key Takeaways
- BitMEX now offers Equity Perps, allowing users to trade tokenized versions of major U.S. stocks like Apple, Tesla, and Nvidia around the clock.
- Trades are backed by crypto collateral including Bitcoin, Ethereum, XRP, Solana, and stablecoins, with up to 20x leverage.
- The contracts are perpetual, have no expiration date, and follow a funding rate mechanism similar to crypto swaps.
- Regulatory uncertainty persists, but BitMEX emphasizes compliance through cash-settled instruments and a Panamanian entity.
What Happened?
BitMEX is expanding beyond its crypto-native roots with the launch of Equity Perps, a new class of perpetual swap contracts that track the prices of major U.S. equities. These instruments allow crypto holders to gain exposure to stocks like Amazon, Meta, and indices like the S&P 500 without needing to convert their assets into fiat or use traditional brokers.
JUST ANNOUNCED: @BitMEX, the inventor of crypto perps, has selected Chainlink to power its new Equity Perps.
— Chainlink (@chainlink) January 6, 2026
Data Streams delivers fast, reliable data unlocking a new generation of markets across stocks, ETFs, & much more. pic.twitter.com/qaiAhsaqzj
Tokenized Equities Meet Crypto Collateral
The Equity Perps product is a notable step in bridging the gap between traditional financial markets and crypto trading. By mimicking the structure of perpetual crypto swaps, the new contracts eliminate expiry dates and allow trading with up to 20x leverage.
Key features include:
- Cash-settled contracts with no delivery of actual stock.
- 24/7 trading, even when U.S. equity markets are closed.
- Crypto collateral support, including BTC, ETH, XRP, SOL, and stablecoins.
- Maker rebates of 2.5 basis points and taker fees of 7.5 basis points.
- Funding rates exchanged every 8 hours, consistent with BitMEX’s crypto products.
At launch, the available equities include high-volume stocks such as Amazon, Apple, Coinbase, Meta, Nvidia, Robinhood, and Tesla, alongside benchmark indices like the S&P 500 and Nasdaq. BitMEX plans to add more contracts over time.
CEO Stephan Lutz explained, “Equity Perps give traders a more flexible way to access U.S. equity markets using crypto.” He added that the product aligns with the desires of younger, tech-savvy investors looking for flexibility and control without liquidating their digital assets.
Market Momentum for Tokenized Stocks
BitMEX’s move comes amid growing momentum for tokenized equities. Exchanges like Bitget and Kraken have reported surging volumes in tokenized stock products. Bitget’s spot trading of tokenized equities topped $1 billion, with 95 percent of that volume generated in December alone. Kraken’s xStocks platform surpassed $10 billion in combined exchange volume.
Gracy Chen, CEO of Bitget, said, “December’s surge went hand in hand with U.S. equities, where AI narratives and renewed tech enthusiasm created ideal conditions for active trading.” She also noted that onchain access to traditional assets like stocks is becoming a core market layer, not just a niche offering.
Other major exchanges such as Coinbase are also integrating tokenized assets into their platforms, indicating a broad shift toward blending traditional financial instruments with crypto infrastructure.
Regulatory Unknowns Still Loom
Despite the innovation, regulatory clarity remains a major challenge. Equity Perps and similar instruments exist in a legal gray zone, especially in jurisdictions like the U.S. and EU, where regulators have expressed concerns about investor protections and ownership rights.
BitMEX operates its Equity Perps through a Panamanian entity, using cash-settled mechanisms to sidestep some of the complications associated with direct stock tokenization. Lutz stated that this structure avoids the legal uncertainties tied to spot tokenized shares and is designed to meet compliance standards.
Chen added that regional regulatory differences are expected and part of the evolving landscape, with exchanges adjusting accordingly to maintain compliance while expanding access.
CoinLaw’s Takeaway
Honestly, I think BitMEX is making a bold but smart move. In my experience, younger investors crave flexibility and crypto-style trading around the clock. Equity Perps feel like the next natural step. I’ve seen how traditional brokerage accounts can feel restrictive or inaccessible to many outside the U.S., so letting people trade Apple or Tesla with Bitcoin anytime? That’s powerful. This is also a great way for crypto holders to diversify without converting to fiat. The regulatory risks are real, but BitMEX’s cash-settled model shows they’re playing it carefully.
