Bitnomial Joins Intermarket Surveillance Group, Paving Way for More U.S. Crypto Spot ETFs

Quick Breakdown 

• Bitnomial joins ISG and takes a major step toward enabling U.S. crypto spot ETFs under the SEC 2025 framework
• Direct crypto exposure with CFTC-regulated futures for BTC, XRP, and ADA allows ETF participants to reduce basis risk
• Historic milestone with the first U.S.-listed perpetual BTC/USD futures launching April 28, 2025 for institutional participants

 

Bitnomial has officially joined the Intermarket Surveillance Group (ISG), a global alliance of exchanges that share market surveillance data. The move positions Bitnomial as a key enabler for future crypto spot ETFs, allowing issuers to meet U.S. Securities and Exchange Commission (SEC) requirements under the 2025 ETF framework.

Bitnomial Joins Intermarket Surveillance Group. Source: Bitnomial

Strengthening compliance for crypto ETFs

Membership in the ISG satisfies the SEC’s updated standards for commodity-based exchange-traded funds, which require surveillance-sharing agreements with U.S.-regulated futures exchanges. This inclusion now allows ETF sponsors to use Bitnomial’s existing crypto futures contracts — including those for Bitcoin, XRP, and ADA — to meet regulatory thresholds.

For assets such as XRP and ADA, where Bitnomial was the first to list U.S.-regulated futures, the exchange’s original listing date will count as the six-month benchmark for ETF qualification. This development effectively opens a regulatory path for new crypto ETFs tied to these assets, reducing friction for issuers seeking to expand digital asset exposure in traditional financial markets.

A direct bridge between futures and spot markets

Bitnomial remains the only U.S. Commodity Futures Trading Commission (CFTC)-regulated exchange offering crypto margin deposits and physical settlement for futures and options. Unlike cash-settled models, its structure enables ETF participants and market makers to gain direct exposure to underlying crypto assets, enhancing price discovery and minimizing basis risk.

The exchange is also developing additional futures contracts in collaboration with token foundations and ETF sponsors, broadening the scope of digital assets eligible for U.S. spot ETF listings.

With this milestone, Bitnomial strengthens its role as a key bridge between the regulated futures market and the evolving landscape of crypto-based ETFs.

In a parallel milestone, Bitnomial has self-certified the first-ever perpetual futures contracts listed on a U.S. exchange, a historic achievement in the evolution of regulated crypto markets. Beginning April 28, 2025, the exchange will launch BTC/USD perpetual futures, initially available to institutional participants, further cementing its role as a bridge between traditional derivatives and digital asset innovation.