The move fits a broader push by Bybit into TradFi-linked derivatives. The exchange has been expanding into stock and ETF perpetuals , and earlier introduced 24/7 TradFi perpetual contract trading covering U.
Bybit has launched SMH, XBI and XLE U.S. stock perpetual contracts, adding three named stock-linked derivatives to its exchange lineup and extending its move into products that track U.S. equities rather than direct stock ownership.
The listings cover perpetual contracts referencing three U.S.-listed ETFs: SMH, XBI and XLE. These are derivatives products traded on the exchange, not shares of the underlying funds, meaning users take positions on price movement rather than holding the equities themselves. For related coverage, see ESMA launches crypto custody stress test amid EU oversight push.
- What launched: Perpetual contracts tied to SMH, XBI and XLE.
- What it is not: These are derivatives, not direct ownership of the underlying U.S. stocks or ETFs.
The move fits a broader push by Bybit into TradFi-linked derivatives. The exchange has been expanding into stock and ETF perpetuals, and earlier introduced 24/7 TradFi perpetual contract trading covering U.S. stocks and global ETFs.
How SMH, XBI and XLE Fit Bybit’s Stock-Linked Push
Naming three separate contracts at once, rather than a single listing, signals a product-line expansion instead of a one-off test. Each is presented under the same U.S. stock perpetual launch, tying them to a single coordinated rollout on the exchange.
The three chosen products track sector ETFs, with XLE covering the energy sector via the Energy Select Sector SPDR ETF. Bundling sector exposures gives traders on the platform more ways to express views on specific parts of the U.S. market without leaving a crypto venue.
The listings arrive as exchanges broaden the overlap between crypto and equities trading. That trend has also shown up in tokenized-stock activity, where trading volume recently hit a record, and in new venues such as the 24/7 tokenized stock platform from dYdX Labs and Robinhood.
For Bybit specifically, the product expansion continues alongside other platform activity, including its recent promotional campaigns. It also comes as the exchange navigates regional access changes, having said it would stop serving EEA users.
What to Watch Next
The launch confirms the three contracts but leaves operational detail to official documentation. Traders should look to Bybit’s own official announcements for contract terms, listing specifications and eligibility.
Any deeper assessment of the SMH, XBI and XLE listings depends on those confirmed product terms and on how the market responds once trading is live.
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.