Bitget US Stock Contracts Exceed $200 Million in Trading Volume, Led by TSLA, NVDA, CRCL
Executive Summary
Bitget's U-margined US stock perpetual contracts have surpassed $200 million in cumulative trading volume, with TSLA, NVDA, and CRCL emerging as the top traded assets. This milestone underscores a growing trend of cryptocurrency platforms expanding into traditional financial products, attracting a broader user base and potentially boosting overall trading volume.
The Event in Detail
The cumulative trading volume for Bitget's US stock contracts has exceeded $200 million. Data indicates that TSLA (Tesla) led these contracts with $71.5 million in trading volume, followed by NVDA (Nvidia) at $25.05 million, and CRCL (Circle) at $17.68 million. The platform currently offers 25 U-margined US stock perpetual contracts, covering a range of global blue-chip assets from sectors such as technology, semiconductors, and finance, including major companies like Apple, Tesla, Amazon, and Nvidia.
Financial Mechanics and Product Offering
Bitget's US stock contracts provide users with flexible leverage ranging from 1x to 25x and operate on a 5x24-hour trading schedule, though trading of Real-World Asset (RWA) index perpetuals pauses during stock market holidays and weekends. Transaction fees for these contracts are competitive, not exceeding 0.06%. The contracts are settled in USDT, thereby removing traditional fiat onboarding requirements. The introduction of the RWA Index Perpetual Contract marks a strategic move to link tokenized stocks directly with crypto trading, offering continuous exposure to real-world asset pricing. For assets like Tesla, Nvidia, and Circle, the platform utilizes a composite index approach, pooling pricing data from multiple tokenized stock sources, such as xStocks, to ensure balanced pricing and avoid dependency on a single price feed. These RWA contracts support isolated margin mode and feature capped leverage (e.g., 10x for Tesla RWA contracts) with position limits to manage risk. During market closures, pricing is frozen to prevent liquidations, while users retain the ability to add margin or cancel orders.
Business Strategy and Market Positioning
Bitget has positioned itself as a first mover in bridging traditional financial markets with decentralized finance by enabling direct USDC-to-stock transactions through a seamless interface. This strategy aligns with the broader market trend of tokenized equities, which saw significant expansion in 2025. Other major players, including Kraken, Bybit, KuCoin, Robinhood, eToro, and Gemini, have also launched or are pursuing tokenized stock offerings. The market for tokenized real-world assets (RWA) is projected to grow from $0.6 trillion in 2025 to $18.9 trillion by 2033. Bitget's innovation and expansion into these hybrid asset trading opportunities build upon its strong performance, which includes a global user base of 120 million and average monthly derivatives volume exceeding half a trillion USD. According to Gracy Chen, CEO of Bitget, "Crossing $100 million in daily TVL is a powerful validation of our approach... We built Bitget Onchain to give users seamless access to the best of both CEX and DEX ecosystems. Seeing this level of adoption so quickly confirms that we've built something the market truly needs, and it inspires us to keep innovating for our users."
Broader Market Implications
The substantial trading volume in Bitget's US stock contracts highlights the accelerating convergence of traditional finance (TradFi) and the Web3 ecosystem. This trend is expected to intensify competition among crypto platforms as they broaden their product offerings beyond native digital assets. The expansion into tokenized traditional assets like US stocks serves to attract a more diverse investor base, potentially increasing overall trading liquidity and volume across these platforms. However, the rapidly evolving landscape of tokenized stocks also presents regulatory challenges. While tokenized stocks aim to offer 24/7 trading and instant settlement, many existing products function more like derivatives than actual shares, often lacking voting rights, dividends, or direct ownership. This raises concerns regarding investor protection and market integrity, prompting regulatory bodies in regions like Europe (under the MiFID derivatives framework) and the US (SEC) to scrutinize these novel financial instruments. The lack of standardization in the tokenization space remains a significant point of discussion among market leaders and regulators alike.
