Webull plans to begin offering cryptocurrency-linked perpetual futures to eligible U.S. customers in November, using Kalshi's exchange and clearing infrastructure. The online brokerage announced the timetable on October 20, turning a broad product plan into a stated launch window. It did not say that trading has started or give an exact opening date.

How the rollout is structured

Webull said the first contracts will include Bitcoin and other crypto assets. The products are to be listed on KalshiEX, which Webull described as a Commodity Futures Trading Commission-regulated designated contract market, and cleared by Kalshi Klear, a CFTC-regulated derivatives clearing organization. Reuters independently reported the Webull-Kalshi arrangement and the planned November start. This is an exchange-traded derivatives offering, not a listing of Bitcoin or a new token on Webull's spot market.

Related reporting: SGX opens Bitcoin and Ether perpetual futures to U.S. institutions

Access is intended for U.S. customers who have an existing Webull Futures account and are approved to trade futures. Webull expects a phased introduction in November and broader availability before the end of 2026. It described additional non-crypto products as a later possibility, subject to regulatory review and exchange listing requirements. Those plans should not be treated as approved products or a commitment to a particular launch date.

Why the product differs from ordinary futures

A perpetual future provides exposure to an underlying asset without a scheduled expiration. Conventional futures expire, requiring a trader who wants continuous exposure to close or roll a position into a later contract. Perpetual contracts instead use periodic funding payments to help keep the derivative price near its reference market. That mechanism does not make the position equivalent to holding the underlying asset.

The difference matters to customers because the proposed product would add another way to take leveraged crypto exposure through a U.S. futures account. It also introduces risks that spot ownership does not carry in the same form. Webull warned that positions can face funding payments and automatic liquidation when account margin drops below maintenance requirements. The company said perpetual futures are not suitable for every investor.

What remains unknown

Webull has not provided the full initial list of crypto contracts, contract specifications, margin levels, funding schedules or a specific November trading date in its October 20 announcement. Those details will determine how the offering works in practice and which customers can use it. The company said it intends to show users margin requirements, funding rates, leverage and liquidation levels within its platform, but that is a product intention rather than evidence of live availability.

The announcement comes as U.S. venues test regulated versions of a derivatives format long used in offshore crypto markets. Reuters noted that domestic demand has grown following earlier CFTC approvals for perpetual-futures products. Webull's plan is distinct from those earlier launches: its customers would reach contracts listed and cleared through Kalshi's infrastructure, rather than trade a newly issued Webull token or a conventional spot pair.

For now, the concrete development is the October 20 launch-window announcement and the named exchange-and-clearing arrangement. Eligible customers will need to wait for Webull and Kalshi to publish final availability and contract terms before drawing conclusions about execution, cost or risk.

Sources

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