BitMEX removes 65 markets as its 11-year run nears an end

BitMEX will have removed 65 derivative contracts and spot trading pairs during July as the crypto exchange prepares to stop exchange services on Sept. 23, 2026. 

The total includes 21 derivatives removed on July 2, nine spot pairs removed on July 16 and 35 derivatives scheduled for early settlement on July 30.

The July total marks a sharp rise from the first half of 2026. Official notices show that BitMEX removed eight derivatives in January, eight in May, SPYUSDT in June and two Toncoin contracts later that month. That produced 19 removals across the first six months.

July delistings expand after closure decision

BitMEX attributed the first two July rounds to “insufficient trading interest.” The July 2 batch included contracts tied to Apple, Amazon, Avalanche, BMEX, Meta and Near Protocol. Two weeks later, the exchange removed spot markets for UNI, APE, ATOM, AXS, BONK, LINK, POL, Sonic and TRX.

The final July round will remove 35 derivatives at 12:00 UTC on July 30. BitMEX linked that decision to weak trading interest and the exchange closure. The list covers crypto, foreign exchange, commodities and equity-linked products, including AAVEUSDT, COINUSDT, GOOGLUSDT, MSTRUSDT, NVDAUSDT, TSLAUSDT and WTIUSDT.

Trading will continue until 04:00 UTC on July 30. BitMEX will then stop new funding calculations, cancel open orders and settle positions at the stated prices. It will not charge settlement fees. Profit and loss from each expired contract will move to the user’s Bitcoin or Tether balance.

BitMEX sets deadlines for open positions

BitMEX said it will close the exchange at 04:00 UTC on Sept. 23 after a “strategic review of the business and the broader crypto industry.” HDR Global Trading Limited, the platform’s owner and operator, stopped accepting new account registrations when it announced the shutdown.

The exchange will apply new risk limits from 04:00 UTC on Aug. 26. Users will no longer be able to open positions after that point, although they can reduce existing exposure. BitMEX may force-close positions during the wind-down period and will close any positions still open when exchange services end.

Users will keep account access after the closure date. They can view balances, review transaction records and request withdrawals. BitMEX also unstaked BMEX tokens held through the platform. The company urged customers to close positions and withdraw funds before Sept. 23.

Verified users who leave assets on the platform after the deadline will face a fee. BitMEX set the charge at $50 or 1% per year, whichever is higher, billed monthly. It warned that withdrawal reviews and blockchain limits could cause delays during heavy demand.

Shutdown follows management and sale reports

BitMEX launched in 2014 and became closely linked with leveraged crypto derivatives. A crypto.news guide to perpetual futures notes that the exchange created the perpetual swap in 2016. The contract later spread across centralized and decentralized trading venues.

However, the exchange entered its final months after corporate changes. As crypto.news reported in June, BitMEX appointed former chief operating officer and general counsel Peter Wilkinson as chief executive after removing Stephan Lutz and two other senior leaders. The changes followed reports that the company had sought a buyer.

Crypto.news reported in February 2025 that BitMEX had hired Broadhaven Capital Partners to assist with a potential sale. BitMEX did not mention that process in its closure statement. It also did not provide financial results, trading-volume data or a direct cause beyond its strategic review.

Users face an orderly withdrawal process

BitMEX said withdrawals will remain open after exchange services stop. It also stated that its assets exceed customer liabilities, referring users to its proof-of-reserves and liabilities page. The company warned customers to ignore messages promising priority withdrawals because it does not offer such a service.

Additional checks may slow processing. Bitcoin withdrawals may take longer when network confirmations or the platform’s fixed pool of withdrawal addresses create a queue. Customers can monitor requests marked “Processing” until BitMEX sends them to the blockchain.

The closure differs from some recent exchange wind-downs. As previously reported, AscendEX warned that some users might not recover full balances after financial and regulatory pressure forced it to close. BitMEX says customer assets remain covered, although that statement comes from the exchange.

The July schedule now forms the first major stage of the shutdown. BitMEX will settle 35 more contracts on July 30, restrict new positions on Aug. 26 and end exchange services on Sept. 23. Users can still withdraw afterward, but fees will apply to qualifying balances left past the closure time.