Policy Statement Concerning the Listing of Perpetual Contracts

Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Commodity Futures Trading Commission AGENCY: Commodity Futures Trading Commission. ACTION: Policy statement. SUMMARY: This policy statement describes the views of the Commodity Futures Trading Commission (the “CFTC” or “Commission”) concerning the listing of perpetual contracts. Contemporaneously with the issuance of this policy statement, the Commission has issued an order (the “Order”) permitting the listing of a perpetual contract that references the spot price of bitcoin by a designated contract market (“DCM”) as a futures contract. Given the unique characteristics of perpetual contracts, which tend to vary based on the underlying asset they reference, the Commission is of the view that the case-by-case review process detailed in Commission Regulation 40.3 is appropriate for the listing of perpetual contracts that reference asset classes that are not contemplated in the Order. DATES: The Commission's policy statement is adopted as of May 29, 2026. FOR FURTHER INFORMATION CONTACT: Roger Smith, 202-418-5344, rsmith@cftc.gov , Division of Market Oversight, Commodity Futures Trading Commission, 77 West Jackson Blvd., Suite 800, Chicago, Illinois 60604 or Stephen Andrews, Deputy General Counsel for Regulation, 202-308-7563, sdandrews@cftc.gov , Office of the General Counsel, Commodity Futures Trading Commission, Three Lafayette Centre, 1151 21st Street NW, Washington, DC 20581. SUPPLEMENTARY INFORMATION: I. Introduction and Backg…