Binance: stock perpetuals trading surges 15x to $445 billion

Binance sees explosive growth in trading of perpetual futures linked to traditional financial assets such as equities and ETFs. Monthly volume rose from roughly $30 billion in January to $445 billion in July, an increase of about fifteenfold. At the same time, the platform is expanding its offering: users outside the US can access options on more than a thousand US equities and ETFs through the Abu Dhabi entity Nest Trading Limited.

In brief:

• Trading volume in perpetuals linked to traditional assets on Binance grew fifteenfold between January and July 2025.
• Through Nest Trading Limited and broker-dealer Alpaca Securities, Binance offers options on more than a thousand US stocks and ETFs.
• Head of trading Shunyet Jan says demand for traditional assets via crypto infrastructure is rising sharply.

Crypto infrastructure for traditional assets gains ground

Shunyet Jan, head of exchange and trading at Binance, said in an interview with Bloomberg that interest in traditional assets via crypto infrastructure is growing strongly. “We’re simply giving users what they want and offering more choice,” Jan said.

The growth is also evident from the exchange’s own figures. Daily trading volume in perpetual futures tracking SanDisk Corp. stock recently even surpassed that of Bitcoin perpetuals on Binance. That illustrates how large interest in equity-related products on the platform has become.

Perpetual futures are popular with traders because they have no expiry date and offer direct leverage exposure. In the crypto sector, they are seen as a more accessible alternative to traditional options, which are more complex but offer greater precision. This aligns with a broader trend in which crypto platforms and traditional financial infrastructure are moving closer together.

Options via Abu Dhabi entity and Alpaca Securities

In addition to perpetuals, Binance is expanding its offering with options. Users outside the US can trade options on more than a thousand US stocks and ETFs through Nest Trading Limited, Binance’s Abu Dhabi entity. Execution, clearing and custody of orders are handled by US broker-dealer Alpaca Securities.

Jan acknowledges that options offer advantages that perpetuals do not have. “I see many parties that want options because they cannot be liquidated and have more control over the maturity,” he said. Options give the holder the right, but not the obligation, to buy or sell an underlying asset at a fixed price before a specified expiry date.

With this offering, Binance is clearly targeting a growing group of users who want to trade traditional investment products through the infrastructure of crypto exchanges, without using classic brokers.