ETF-linked perpetual futures reached a cumulative trading volume of $116 billion between January and July 2026, growing at an average rate of 170% month-over-month. SOXL contracts dominate with $41.97 billion, followed by KORU at $16.15 billion and EWY at $8.43 billion. Binance controls 74% of total volume in this market, representing 30% of its overall TradFi perpetual activity. The KORU perpetual contract achieved trading volume equal to 148% of its underlying ETF, indicating speculative activity on the crypto derivative exceeds that of the actual ETF. Bybit entered the market in May 2026, creating concentrated counterparty risk around Binance.
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