Binance Futures has expanded its lineup of traditional-finance-linked perpetual contracts, listing three new products tied to exchange-traded funds: the Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF), the ProShares UltraShort 20+ Year Treasury (TBT), and the ProShares Bitcoin ETF (BITO). All three are tradable around the clock with leverage of up to 25x.
Betting on Rates in Both Directions
The TMF and TBT listings give traders a way to take leveraged positions on long-duration U.S. Treasury bonds in opposite directions within the same venue. TMF is designed to amplify gains when long-term Treasury prices rise — typically when yields fall — while TBT moves inversely, gaining when Treasury prices fall as yields climb. Packaging both as round-the-clock perpetuals lets traders position for rate moves outside of traditional market hours, when the underlying ETFs themselves aren't tradable.
A Bitcoin ETF, Wrapped as a Perpetual
The addition of BITO brings a different kind of exposure to the platform: a perpetual contract tracking ProShares' Bitcoin futures ETF rather than bitcoin's spot price directly. That gives traders on Binance Futures a way to speculate on the ETF's price action specifically, including any tracking differences between BITO and spot bitcoin that arise from its futures-based structure.
Part of a Broader TradFi Push
The listing continues a trend among major crypto exchanges of building out perpetual contracts on traditional equities and ETFs, blurring the line between crypto-native derivatives desks and conventional markets. By offering 24/7 access and leverage well beyond what most regulated brokers permit, exchanges like Binance are positioning these products as an always-on complement to markets that otherwise close on nights, weekends, and holidays.
