In overseas virtual asset exchanges, the size of the futures market based on traditional financial assets such as Samsung Electronics(005930) and SK hynix(000660) is growing rapidly.
According to the virtual asset data platform Coinglass on the 10th, as of midnight that day, on the world's largest virtual asset exchange Binance Holdings Ltd., the notional for perpetual futures (contracts without an expiration date) transactions using SK hynix (SKHYNIXUSDT) as the underlying asset recorded $1.8 billion (about 2.7185 trillion won).
This ranks fourth in size after ▲Bitcoin (BTCUSDT), ▲Ethereum (ETHUSDT), and ▲the U.S. global semiconductor company SanDisk (SNDKUSDT). The perpetual futures transaction amount using Samsung Electronics (SAMSUNGUSDT) as the underlying asset is $153 million (about 231 billion won), ranking 31st.
On the same day, on Hyperliquid, the No. 1 exchange by market share in the decentralized derivatives market, the perpetual futures transaction amount tracking SK hynix (SKHXUSDC) stood at $814.55 million (about 1.223 trillion won). By transaction amount, it ranks sixth after ▲Bitcoin (BTCUSDC), ▲Hyperliquid Token (HYPEUSDC), ▲Ethereum (ETHUSDC), ▲the U.S. S&P 500 stock index (SP500USDC), and ▲Solana (SOLUSDC). The futures transaction amount tracking Samsung Electronics (SMSNUSDC) is $98.9 million (about 149.5 billion won), ranking 28th.
On May 21, Binance Holdings Ltd. also listed the pre-IPO (Initial Public Offering) perpetual futures product "SPCXUSDT" for SpaceX. It is a product that lets users bet in advance on SpaceX's corporate value before listing. When SpaceX was listed on Nasdaq on the 12th of last month, it automatically converted to a regular perpetual futures product. On this day, SPCXUSDT transaction amount is $917 million (about 1.3845 trillion won).
While overseas exchanges reap massive revenue with futures products based on traditional financial assets, domestic virtual asset exchanges are bound by regulations, leaving all businesses other than spot transactions blocked. The Financial Services Commission classified tokenized stocks such as stocks, bonds, and real estate as securities rather than virtual assets. If a domestic virtual asset exchange issues or distributes security tokens, it constitutes unlicensed business.
The size of the futures market based on traditional finance as the underlying asset continues to grow. According to the virtual asset data platform CoinGecko, on the 5th, the traditional finance asset futures market transaction volume on overseas exchanges recorded $347 billion (about 520 trillion won), up more than 1,500 times from $230 million (about 346 billion won) in Jan. last year. The cumulative transaction volume from Jan. to May this year was $1.32 trillion (about 1,985 trillion won), far exceeding the full-year amount of $104 billion (about 155 trillion won) last year.