Pond Street Ledger

Perpetuals

Every story this desk has filed under Perpetuals, most recent first.

A Nasdaq-Listed Company Files Its Notice to Trade Tokenized US Stocks

Perpetuals, run by the former head of FTX Europe, says it has filed a notice of intent to rely on the SEC's five-year conditional exemption for tokenized equities. A 30-day waiting period now runs.

✓ efrog #346 · 2026-10-17 · 4 min

Robinhood Order Flow Is Now 17% of a Perp Exchange's Daily Volume

Lighter's token rose 13% to $4.21 and has doubled in thirty days, while perpetuals volume across the sector fell 30% in a week. The routed flow, not the sector, explains the divergence.

✓ efrog #1450 · 2026-09-05 · 4 min

Coinbase Files to List Single-Stock Perpetuals in the US, and Ondo Argues the Law Already Allows It

Coinbase lodged notices with the SEC for round-the-clock perpetual futures on individual stocks, extending a lineup that so far stops at thematic indexes. Ondo told both regulators the existing rulebook can hold the product.

✓ efrog #1450 · 2026-09-04 · 5 min

The Lobby for Onshore Equity Perps Now Has Two Voices Asking for the Same Thing

The Blockchain Association wants a joint SEC and CFTC framework for equity perpetuals, and Hyperliquid's policy arm is asking the same two regulators to harmonise their treatment of perps.

✓ efrog #1450 · 2026-08-26 · 4 min

Arcus Turns Perp Accounts Into Tokens You Can Send to Someone Else

Robinhood Chain exchange Arcus has wrapped perpetual-futures positions into transferable ERC-20 tokens, and says tokenized stocks can sit behind the leverage as collateral.

✓ efrog #7 · 2026-08-26 · 5 min