Webull says it plans to offer customers leveraged Bitcoin and Ether trading “in coming months, ” but its product page does not identify the contracts as perpetual futures. The claim that the service will reach “over 6 million clients” is also unconfirmed, leaving its potential reach and terms unclear.
- Webull’s page describes up to 10x leverage on Bitcoin and Ether.
- It does not confirm perpetual futures or give a launch date.
- The “over 6 million clients” figure has no clear attribution or definition.
- Eligibility, fees, settlement and liquidation rules remain unspecified.
What Webull has announced
Webull’s product page, titled “Up to 10x Leverage on Bitcoin and Ether for Customers, ” says the products are expected “in coming months.” That supports the narrower claim that Webull plans to offer leveraged trading in Bitcoin and Ether. The page gives no specific launch date.
The page does not call the contracts perpetual futures. It also leaves unanswered which customers and jurisdictions will be eligible, and says nothing about fees, margin requirements, settlement arrangements or liquidation rules. Without those details, “leveraged crypto product” does not tell customers exactly what they would be trading.
The claim that Webull will offer Bitcoin perpetual futures to “over 6 million clients” is not confirmed by the product page. The source provides no definition, date or geographic scope for the 6 million figure.
Why the contract type matters
A perpetual future is a derivative contract tied to an asset’s price with no fixed expiry date. Trading one generally gives you contractual exposure to the asset’s price. It does not necessarily mean buying bitcoin that you can withdraw to a personal wallet.
Perpetual futures commonly use periodic funding payments to keep a contract’s price close to the underlying market price. Webull’s page does not say whether its planned offering is perpetual, how it would be settled or whether customers could withdraw Bitcoin. These terms affect the costs and rights attached to a position.
Buying Bitcoin directly is different from trading a leveraged derivative. Until Webull identifies the instrument and explains its custody and settlement arrangements, customers should not assume the product gives them direct ownership of Bitcoin.
What 10x leverage can mean
Webull’s page refers to up to 10x leverage on Bitcoin and Ether. Leverage lets traders control a position larger than the capital they put up, amplifying losses as well as gains.
As a rough illustration, a 10x position requires initial margin of about one-tenth of its value. A 10% move against the position would equal roughly that initial margin before fees and other costs. This is not a precise liquidation threshold. A platform’s maintenance-margin requirements can trigger liquidation sooner, and the outcome depends on the contract’s rules.
Webull’s page does not specify margin requirements or liquidation rules for the planned product. “Up to 10x” also does not mean every customer will receive or choose that level of leverage. These details matter because even a small adverse price move can quickly put a highly leveraged position under pressure.
Registered users are not necessarily eligible customers
A Webull Corporation financial-results release filed with the U.S. Securities and Exchange Commission on November 20, 2025, reported more than 25 million registered users across 14 markets globally. The company defined registered users as people who had signed up on its platform, whether or not they had opened a brokerage account.
That figure is not the same as the number of “clients, ” funded accounts or customers approved to trade a particular derivative. It neither verifies nor disproves the separate 6 million claim. The figures could refer to different populations, markets or dates. The number of people eligible for Webull’s planned product remains unknown.
Access may also depend on a customer’s jurisdiction and product-specific requirements. A large user base does not show how many people will be allowed to trade a particular contract.
Key questions about Webull’s Bitcoin product
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Has Webull confirmed Bitcoin perpetual futures?
No. Its product page describes planned leveraged Bitcoin and Ether trading, but does not identify the contracts as perpetual futures.
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Would trading the product mean owning Bitcoin?
That is not established. A futures contract generally provides contractual exposure to price rather than direct ownership. Webull has not specified the planned product’s custody, settlement or withdrawal arrangements.
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What does up to 10x leverage mean for losses?
It can magnify losses as well as gains. A 10% move against a 10x position is roughly equal to its initial margin before fees, but liquidation may happen sooner depending on maintenance-margin rules.
Webull’s page signals plans to bring leveraged crypto trading to its customers, but leaves the product’s structure and potential reach unclear. Until the company specifies the contract type, launch date, eligible markets, costs and risk controls, the “perpetual futures” label and the 6 million-client claim should be treated as unconfirmed.
Bitcoin and Ether trading at other brokerages is also on the horizon. Charles Schwab’s planned launch is set for 2026. Related offerings include Hong Kong’s crypto margin financing and perpetual contracts.
