Bitnomial launches the first compliant futures product for Tezos (XTZ) in the United States

According to The Block, the Chicago-based derivatives exchange Bitnomial has announced the launch of the first regulated Tezos (XTZ) futures contract in the United States, officially available for institutional investors, while retail users will participate in trading through its platform Botanical.

The Tezos project was first proposed in 2014 and raised approximately $232 million in its 2017 ICO, which was one of the largest ICOs in history. Tezos is known for its "self-amending" governance mechanism and early adoption of PoS consensus.

Bitnomial stated that it also plans to launch XTZ perpetual contracts and options products in the future. Tezos co-founder Arthur Breitman pointed out that the introduction of regulated futures helps improve price discovery and risk hedging mechanisms, promoting institutional participation. Bitnomial has previously been the first in the U.S. to launch compliant derivatives for several crypto assets, including XRP, Solana, and Aptos.