Binance Futures has launched perpetual contracts tied to BITO, TMF and TBT, expanding its derivatives lineup with three products that reference exchange-traded funds rather than spot crypto tokens.

Binance Futures lists BITO, TMF and TBT

The exchange listed BITO, TMF and TBT as perpetual futures, according to a Binance Futures announcement. All three products reference ETFs instead of individual cryptocurrencies.

Perpetual contracts are derivatives that allow traders to take leveraged long or short positions without an expiry date. Unlike dated futures, they roll continuously and use funding payments to help keep the contract price aligned with the underlying asset. As derivatives, the new contracts provide price exposure to the referenced ETFs rather than ownership of ETF shares.

The additions come as Binance continues to manage its listed markets through broader product reviews, including recent actions such as adding tokens to its monitoring tag.

How BITO, TMF and TBT differ from Binance’s usual markets

BITO is the ProShares Bitcoin Strategy ETF, which provides bitcoin-linked market exposure through futures rather than direct spot holdings, according to ProShares. On Binance Futures, the listing gives traders access to a bitcoin-adjacent instrument structured as an ETF-referenced perpetual contract.

TMF and TBT are outside crypto markets entirely. Both track leveraged exposure to long-dated U.S. Treasuries, but with opposite directional profiles. TMF is the Direxion Daily 20+ Year Treasury Bull 3X fund, a Direxion product designed to move with rising long-bond prices.

TBT is the ProShares UltraShort 20+ Year Treasury fund, which is structured to move inversely to those same bonds, according to ProShares. Listing both TMF and TBT gives Binance users a way to express bullish and bearish views on long-duration Treasuries within the same venue.

For Binance users, the products provide directional exposure to non-crypto assets without leaving the platform. Traders seeking to position around interest-rate moves or bitcoin sentiment can use instruments whose underlying ETFs already include built-in leverage. That makes the listings different from most crypto perpetual markets, where the reference asset is typically a token rather than a regulated fund product linked to futures or Treasury-market benchmarks.

Risks and contract details to review

Because the new products are perpetual contracts, positions are leveraged and subject to funding costs and liquidation risk. The underlying TMF and TBT funds are themselves 3x and 2x leveraged, respectively, meaning that combining ETF leverage with perpetual contract leverage can compound directional risk. Leveraged and inverse ETFs are generally designed around daily objectives, so their performance can diverge from a simple multiple of the underlying market over longer periods, especially when volatility is high.

New listings can attract heightened attention around volatility and liquidity, while thin early order books may widen spreads. Traders should review the contract specifications, margin requirements and funding terms published in the Binance announcement before opening positions.

BITO, TMF and TBT extend Binance Futures beyond crypto-native markets into equity- and rate-linked exposure. At the same time, the products carry layered leverage and volatility associated with both perpetual contracts and leveraged ETFs.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.