Crypto exchanges list perps tied to Chinese AI chip stocks
Cryptocurrency trading platforms including tradeXYZ, Gate.com and Hyperliquid have listed perpetual futures that track CXMT and other Chinese chipmakers, offering investors exposure to mainland AI stocks that are hard for foreigners to buy. About $19mn of CXMT perps traded in 24 hours, and CXMT aims to raise nearly $10bn in a Star Market listing. Perps have no expiry and use data feeds to converge with an underlying listing price, letting holders trade or hedge around IPOs, but regulators and market watchers question their legal status and whether authorities can control cross-border usage.
Perps allow investors to bypass Chinese market access restrictions.
Context
Cryptocurrency platforms launched equity-linked perpetual futures for CXMT and GigaDevice. These perps let investors reach Chinese AI chip stocks that foreigners find hard to access. Regulators may review or warn about these products and…
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