Report published June 2, 2026

Goldman Sachs Report: Strategy BTC Sales and New CFTC Regulated Perpetual Futures

Goldman Sachs · June 2, 2026

Strategy executed its first BTC sale since 2022, while the CFTC reached a milestone by approving regulated perpetual futures platforms in the U.S.

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Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.

Key Takeaways

1.An entity referred to as 'Strategy' sold 32 BTC for $2.5 million, marking its first Bitcoin sale since 2022 to fund preferred stock distributions.
2.The CFTC approved the first regulated crypto perpetual futures platforms (Kalshi and Coinbase/Deribit), providing a domestic alternative to offshore markets.
3.BTC and ETH experienced significant net outflows from U.S. spot ETFs in May 2026, totaling -$2.4 billion and -$540 million respectively.

U.S. Spot ETF Flows
Revisiting BTC's Geopolitical Reaction Function
Regulatory Developments: CFTC Approves Regulated Perpetuals
Appendix (5y charts)

Report data

BTC Performance vs Traditional Assets during past major geopolitical events

Metric	Estimate	Context
Strategy BTC Sale Amount	32 BTC	First sale by Strategy since 2022.
BTC Perpetual Futures Open Interest	32.8 USD Billions	Open interest comparison between perpetuals and CME futures.
U.S. BTC Spot ETF May Net Outflows	-2.4 USD Billions	Cumulative monthly net outflows for May 2026.
CME BTC Futures Open Interest	6.9 USD Billions	Comparison to crypto-native perpetual platforms.