Binance Launches USDT-Settled Contracts Tied to ProShares ETF
Binance Futures has launched three new USDT-settled perpetual contracts tied to ProShares' Bitcoin ETF and two long-duration U.S. Treasury products on July 27.
The contracts, BITOUSDT, TMFUSDT, and TBTUSDT, support up to 25x leverage and remain available for trading around the clock.
Binance head of spot trading and derivatives, Shunyet Jan, said that the platform is trying to not just be a crypto exchange but a super app that involves payment. The new contracts fit this strategy by bringing references to established U.S. investment products into Binance's round-the-clock trading environment.
The TMFUSDT contract tracks the Direxion Daily 20+ Year Treasury Bull 3X ETF, which seeks to deliver three times the daily performance of the ICE U.S. Treasury 20+ Year Bond Index.