Bybit launches USDT-settled Perp Options on SpaceX and Nvidia TradFi perpetuals
By Crypto Wire
September 20, 2026
Bybit says it launched Perp Options—options contracts built on its TradFi perpetual futures—starting September 17, 2026, with SpaceX and Nvidia as the first underlyings and settlement in USDT. The exchange’s PR Newswire release frames the product as round-the-clock TradFi options access without traditional market-hour shutoffs, integrated into Bybit’s Unified Trading Account (UTA) so Spot, Futures, and Options can sit in one account. Stablecoin Settlement files Sunday’s desk note as a USDT P&L rails story—not a rehash of Glassnode’s Bitcoin-vs-alt mid-cap report that also named Bybit as a research partner.
Secondary coverage from CryptoTimes clarifies the settlement object: Perp Options do not deliver SpaceX or Nvidia shares. Their underlyings are Bybit’s own USDT-settled perpetuals—SPCXUSDT and NVDAUSDT—which track those names without the exchange holding or delivering equity. Contracts are described as European-style (exercise at expiration only), cash-settled in Tether, with a contract multiplier of one rather than the traditional 100-share lot. Attribute those mechanics to CryptoTimes’ product write-up and the PR Newswire launch copy; do not invent open interest, fee schedules, or jurisdiction eligibility lists.
Bybit’s release says launch strategies include naked calls and puts plus spreads, straddles, covered calls, and other combinations, with fractional lot sizing and Portfolio Margin support so Perp Options can hedge related holdings and reduce combined margin. Head of Bybit Option Business Mike Xue is quoted saying the desk will look to expand toward Tesla, QQQ, SOXL, Micron, and more, while noting Bybit’s TradFi Perpetuals already span more than 250 tickers. Treat expansion names as stated roadmap language, not live listings.
The stablecoin angle is why this lands on Settlement Desk rather than a pure marketplace wire. Every P&L path in the product description settles in USDT, so traders manage TradFi-linked options exposure without a separate brokerage conversion step—Bybit’s own framing. That keeps Tether liquidity at the center of how crypto accounts price SpaceX and Nvidia risk around the clock, including weekends when NYSE is dark. It is still exchange-custodied synthetic exposure, not a redeemable Backpack-style share token like the BlackBerry $BB Solana listing already logged today.
For NFT collectors who keep USDT balances beside marketplace bids, a 24/7 options layer on equity perps can pull stablecoin inventory into derivatives hedges when AI and pre-IPO narratives heat up—without moving OpenSea floors by itself. Keep Avalanche Helicon’s validator upgrade, MultiversX’s pause, and PEPE’s Sunrise mint in their own wires. Those are L1 ops, incident risk, and meme settlement rails, not Bybit’s USDT-settled TradFi options stack.
Bybit’s PR copy also segments who the product is for: crypto-native traders seeking TradFi options without a separate brokerage, TradFi options traders wanting weekend hours, macro traders expressing views on global assets with crypto-grade availability, and existing Bybit perpetuals traders layering covered calls or protective puts onto TradFi perp books. That audience map matters for USDT float because each cohort keeps settlement inside the same stablecoin balance that NFT desks already use for marketplace deposits on many chains.
Desks comparing Bybit Perp Options to tokenized stock rails should keep the custody distinction sharp. Redeemable share tokens aim to map into brokered equity; Perp Options, per CryptoTimes, reference Bybit’s synthetic perpetual prices and settle cash in USDT. Both products can trade when traditional venues are closed, but only one path claims a path into an underlying share entitlement—and that path is not what Bybit’s options launch describes.
Settlement desks should confirm the September 17 start, SpaceX and Nvidia debut pair, USDT cash settlement, UTA integration, European-style expiration, one-lot multiplier, and the 250-plus TradFi perp backdrop against Bybit’s PR Newswire and CryptoTimes coverage rather than screenshot bots. Watch whether Tesla/QQQ/SOXL/Micron options actually list, whether SPCX/NVDA option volume stays in USDT rather than fragmenting into other stables, and whether weekend sessions print meaningful open interest. Attribute all product claims in this article to Bybit’s September 18 release materials and the CryptoTimes mechanics wrap.
Disclaimer: This article is provided for informational and educational purposes only. It does not constitute financial, investment, legal, or trading advice. The NFT market is highly volatile, and past performance is not indicative of future results. Readers should conduct their own research and consult qualified professionals before making any decisions related to digital assets. The cover image for this article may have been created using artificial intelligence (AI).
