Bitcoin perpetual futures approval triggers "subversion panic," traditional stock exchange sector tumbles.

Financial news app Zhitong Finance learned that since the official approval of the CFTC on May 29 to list Bitcoin perpetual futures on regulated exchanges, the stock prices of major traditional exchanges in the United States have continued to plummet. The Chicago Board Options Exchange (CBOE.US) has seen a cumulative decline of more than 17% this week, while the Chicago Mercantile Exchange (CME.US) is approaching a 9% decline, both aiming for the largest single-week decline since 2020. Behind this sell-off is a deep concern among Wall Street investors that a new financial instrument may fundamentally disrupt the traditional business model of exchanges - and the speed of developments far exceeds market expectations.