Toobit Stock Futures: Volume, Leverage, and Regulatory Flow

Toobit launched USDT-settled perpetual futures on 10 major US stocks yesterday, targeting crypto-native traders with a familiar, leveraged product. The offering features up to 25x leverage, supports long and short positions, and operates on a 24/7 basis, removing traditional market hour constraints.

The product's immediate liquidity is anchored by Toobit's existing massive futures market. The exchange's 24h trading volume sits at $9.85 billion, providing a ready pool of leveraged capital from its core crypto derivatives users. This volume surge, up 4.14% in the last day, signals strong underlying flow that can be redirected into the new TradFi section.

The target audience is clear: crypto traders seeking to bridge to traditional equities without opening a brokerage account. By settling trades in USDT and integrating the new stocks into a unified trading environment, Toobit offers a direct path for its existing user base to access assets like Tesla and Nvidia.

Regulatory Catalysts and Operational Flow

The launch of USDT-settled futures is directly supported by a key regulatory shift. The CFTC reissued its no-action position this week, allowing futures brokers to accept payment stablecoins like USDT as margin collateral. This clears a major operational hurdle for Toobit's new product, enabling the use of crypto-native capital for leveraged equity trades.

This move is part of a broader trend toward permissiveness. The CFTC also withdrew its event contracts rule proposal, signaling a retreat from more restrictive crypto derivatives rules. This shift creates a more favorable environment for exchanges to innovate with crypto-based financial instruments.

At the same time, the SEC is providing clarity on the underlying legal framework. Its joint statement on tokenized securities confirms that federal securities laws apply regardless of whether ownership is recorded onchain or offchain. This establishes a stable regulatory taxonomy for crypto-based financial products, reducing uncertainty for platforms like Toobit.

Price Action Catalysts and Key Metrics to Watch

The immediate catalyst for trading volume is Toobit's 200,000 USDT reward campaign, running from February 2 to February 28. This incentive program is designed to pull capital from the exchange's existing crypto derivatives market into the new stock futures, providing a short-term boost to liquidity and user engagement.

Regulatory flow is a critical supporting factor. The CFTC's withdrawal of its event contracts rule proposal signals a clear shift toward a more permissive stance on crypto derivatives. This creates a favorable environment for leveraged products like Toobit's, reducing a potential overhang on innovation.

Success will be measured by whether open interest and volume in these futures grow beyond the exchange's baseline. The key benchmark is Toobit's 24h trading volume of $9.85 billion. If the new stock futures can capture even a fraction of that flow, it will demonstrate a successful reallocation of capital from crypto-native traders to traditional equities.