LMAX Groupis launching perpetual futures contracts for Bitcoin (BTC) and Ethereum (ETH) withleverage up to 100 times, joining a wave of established exchanges bringinghigh-risk crypto derivatives to institutional traders.LMAX Group Launches 100xLeverage Crypto Futures for Wall StreetTheLondon-based firm, which processes over $40 billion in daily trading volumeacross FX and digital assets, will offer cash-settled contracts that lettraders hold positions indefinitely without rolling them forward. The productsgive institutions exposure to cryptocurrency price movements without requiringthem to hold or custody the underlying tokens directly."Perpetualfutures have dominated the crypto market for the last three or fouryears," said David Mercer, LMAX's Chief Executive Officer. "What wehave heard from our customers including some of the biggest proprietary tradingfirms and brokers is that they are looking for that leveraged access intocrypto."Thecontracts, known as "perps" in trading circles, accounted for 68% ofBitcoin trading volume through mid-June, according to research firm Kaiko.While these products have thrived on offshore crypto exchanges, regulatedvenues in major financial centers are now racing to capture institutionaldemand.Digitalassets meet tradfi in London at the fmls25Wall Street EmbracesHigh-Risk Crypto BetsLMAX'sentry follows similar moves by other established players. CoinbaseFinancial Markets launched perpetual futures in July, while the ChicagoBoard Options Exchange (CBOE) announced plans last week to debut itsown version in November. The rush reflects Wall Street's growing comfortwith crypto derivatives that were once the domain of retail-focused offshoreplatforms.Also lastweek, CFD broker Axi announcedan expansion of its crypto perpetual offerings, adding 150 new contracts.The appealfor institutions lies in the structure itself. Perpetual futures eliminatecustody headaches and compliance concerns that come with holding actualcryptocurrencies, while still providing price exposure. For many traditionalfunds and brokers, this removes two major barriers to crypto trading.The 100xleverage available through LMAX's contracts means traders can control positionsworth $100 for every $1 of capital they put down. While this amplifiespotential profits, it also magnifies losses, making these products attractiveprimarily to sophisticated trading firms rather than conservative assetmanagers.You may also like: Kraken Turns Crypto Trading Into Sports-Style Bet With New “Perps” ContractsInstitutionalInfrastructure Takes ShapeThe shiftrepresents crypto's broader integration into traditional finance. Toolsoriginally built for speed-obsessed retail traders are being rebuilt withinstitutional needs in mind: compliance frameworks, liquidity requirements, andcapital efficiency standards that large firms demand.LMAX, whichstarted as a foreign exchange platform, hasbeen expanding its crypto services for institutional clients includingproprietary trading firms, asset managers, and brokerages. Thefirm recently strengthened its North American presence by hiring formerGoldman Sachs executive Daniel Lavigne to lead sales and product development inthe region.The timingaligns with renewed institutional interest in crypto following regulatoryclarity in key markets and the launch of Bitcoinexchange-traded funds earlier this year. As traditional financeinfrastructure adapts to accommodate digital assets, products like perpetualfutures are becoming bridges between crypto's speculative origins and itsinstitutional future.This article was written by Damian Chmiel at www.financemagnates.com.