Bitget generated nearly $70 billion in TradFi perpetual trading volume during the second quarter, ranking second behind only Binance. TokenInsight's latest exchange industry report identifies the segment as one of crypto exchanges' fastest-growing product categories.
Competition among crypto exchanges is expanding beyond crypto-native assets. As venues roll out tokenised equities, commodities, ETFs and pre-IPO exposure, TradFi perpetuals have become a source of trading activity and product differentiation.
TokenInsight describes the segment as having moved from an experimental offering to an established competitive market for exchanges.
TradFi Perpetuals Gain Momentum
TradFi perpetual trading volumes climbed from $52 billion in January to $268 billion in June, accounting for more than 15% of total derivatives volume on several peak trading days, according to TokenInsight.
Commodity-linked contracts initially generated most activity, but equity perpetuals overtook them as the primary driver, surging from $45 billion in May to $141 billion in June.
The market remains concentrated. Binance led with approximately $380 billion in quarterly TradFi perpetual volume and roughly a 60% market share, while Bitget ranked second with nearly $70 billion. OKX and MEXC followed closely with around $69 billion each.
For Bitget, TradFi perpetuals represented 8.61% of total derivatives trading volume during the quarter — one of the highest penetration rates among major centralised exchanges, just behind Binance's 8.65%.
The exchange also maintained a top-three position across both commodity and equity perpetuals, while its share of futures open interest increased from 7.81% in the first quarter to 8.58% in Q2, among the strongest gains tracked by TokenInsight.
Exchanges Expand Tokenised Market Access
Bitget's launch of IPO Prime and Stocks 2.0 was part of a broader industry push to expand access to tokenised equities and pre-IPO products.
During the quarter, Binance, Bybit, Gate, MEXC and OKX also introduced or expanded stock trading, tokenised securities and related offerings.
"The data points to a market that is starting to catch up with the vision behind our Universal Exchange," Bitget CEO Gracy Chen said. "Investors don't want separate platforms for crypto and traditional finance; they want frictionless access to opportunities across both."
Overall crypto exchange trading volume declined 8% quarter over quarter to $16.5 trillion, even as TradFi perpetual volume nearly quintupled between January and June.
This article was written by Tanya Chepkova at www.financemagnates.com.
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